A Business Organization Of The Gilded Age - 1405 Words

Karen George Period 5 1/27/2017 A business organization left to monitor its adherence to legal, ethical or safety standards on its own, runs the risk of unmonitored and unfettered damage to the economy. The Gilded Age in America was a time in history marked by ruthless competition and zero business ethics that saw only a few rise to the top. John D. Rockefeller of the Standard Oil Company became a so-called â€Å"Captain of the Industry† and a household name. He served as the poster child for Capitalism and in the nature of a true capitalist, he amassed tremendous wealth. However, along with his incredible success, Rockefeller also became known as the â€Å"Robber Baron† due to his unethical business practices of monopoly. Rockefeller wanted to†¦show more content†¦At around the same time the Civil War began, the demand for his goods increased greatly, and he found himself amassing a small amount of wealth. And so, while the average worker earned about $8 a week, Rockefeller was on his way to be worth millions. Rockefeller introduced new techniques that completely reshaped the oil industry as well as how business was run. In 1859, Edwin Drake discovered oil in Titusville, Pennsylvania, and Rockefeller was quick to foresee a future. He was persuaded that refining oil would bring immense wealth and so he began to sell off his other interests. Around 1863, Rockefeller and several partners entered the booming oil industry by investing in a Cleveland Refinery. During the 19th century, kerosene was in high demand and during the process of refining crude oil to kerosene, there were many byproducts that many saw as waste, but thrifty Rockefeller saw it as gold. Byproducts such as petroleum jelly was sold to medical supply companies, paraffin to candlemakers, and other wastes as paving materials for roads. He kept shipping a plethora of goods, therefore, railroad companies drooled over the prospect of getting his business. Due to the immense use of railroads, Rockefeller demande d discounted rates, or rebates from them. The high cost of transporting his oil to his Cleveland refineries cost 40 centsShow MoreRelated The Gilded Age Essay1094 Words   |  5 PagesThe Gilded Age Mark Twain collaborated with Charles Dudley Warner on The Gilded Age: A Tale of Today. Published in 1973, as Twain’s earliest work of extended fiction, The Gilded Age gives a name to the period of opulence and corruption at the end of the 19th century. Portraying the superficial luxury of Washington and high society, the authors describe â€Å"The general laxity of the time, and the absence of a sense of duty toward any part of the community but the individual himself† (Twain 203)Read MoreEssay about Big Business In The Gilded Age1028 Words   |  5 Pages20th century, dubbed the Gilded Age by writer Mark Twain, was a time of great growth and change in every aspect of the United States, and even more so for big business. It was this age that gave birth to many of the important modern business practices we take for granted today, and those in charge of business at the time were considered revolutionaries, whether it was for the good of the people or the good of themselv es. The exact period of time in which the Gilded Age occurred is ever-debatableRead MoreWomen During The Civil War997 Words   |  4 Pagesdiffering and sometimes conflicted social standings during the Progressive Era. Attention is also given to specific strategies that were realized by organizations and groups, such as women’s conventions, schools, and settlement houses to help achieve their overall goal of equality. Attention is also given to specific strategies that were realized by organizations and groups, such as women’s conventions, schools, and settlement houses to help achieve their overall goal of equality. The paper also pinpointsRead MoreA Time Of Rapid Industrialization1713 Words   |  7 Pagesrapid industrialization in the United States. The great American author, Mark Twain, dubbed this period the â€Å"Gilded† Age. Gilded items are covered thinly with gold leaf or gold paint, which hides all that is inside. This idea is evident in this time per iod because America’s golden paint, or industrialization, was hiding all the economic and social problems on the inside. Although the Gilded Age brought along great advances in industrialization, it brought many new problems that were never experiencedRead MoreJohn D. Rockefeller : The Gilded Age Of The Gilded Age741 Words   |  3 PagesFollowing years of reconstruction, the U.S. entered a new age. For this new age, Mark Twain named it after the â€Å"glittering† surface of the time that covered vast corruption underneath. The late 19th century would be called the Gilded Age (Houston). From this Gilded Age, a powerful businessman emerged. John D. Rockefeller ruled the oil industry as king. Using his incredible knowledge of business, he rose up through the age to become one of the most influential businessmen in history. Amidst the 1880sRead MoreThe Gilded Age Of The Nineteenth Century And The Succeeding Period887 Words   |  4 PagesTwo prominent eras of American History were the Gilded Age at the end of the nineteenth century and the succeeding period, the Progressive Era. The Gilded Age, also know as the Second Industrial Revolution, was a peak of high economic development with the rise of technological advancements in a free market environment, meaning that the economy was driven by self-interest instead of government authority. Besides its economic growth, the Gilded Age handle changes in social divisions. After the abolishmentRead MoreReconstruction Of The Civil War1365 Words   |  6 Pagesto keep this going so when slavery was abolished, this frustrated and angered them. These states had left the Union. This led to the American Civil War between the North and South. The Gilded Age was one of the most dynamic periods in the history of America. Mark Twain gave this time period the name Gilded Age. It was during the late 19th century and our country was corrupt underneath. Southern states established laws that deprived African Americans. Laws were passed that would require votersRead MoreThe Gilded Age : The Gilded Age1340 Words   |  6 PagesMark Twain, an American writer, named the late 19th century, the ‘Gilded Age.’ This time frame is ‘gilded’ because the time was glittering with gold on the surface, but corrupt and rotten underneath. This was a time period full of greed and guile, filled with robber barons, speculators, and Buccaneers. Not only that, but there were many sneaky business schemes to get more income, improper politics, and many impolite displays. Although, it’s better to think of this time as modern America’s formativeRead MoreThe Vibrant and Unpredictable Era of the Gilded Age1050 Word s   |  4 PagesThe Gilded Age was one of the most vibrant and unpredictable eras in the history of America. It brought about a new wave of industrial and economic opportunities that allowed some to build massive businesses and fortunes, while other lower and middle class citizens struggled to survive. Some would go as far to say it created a war between the classes across American societies. Giants of industry, such as Andrew Carnegie and John D. Rockefeller, revolutionized how big business led to the riseRead MoreThe Gilded Age By Mark Twain1730 Words   |  7 PagesThe Gilded Age was a period from the late 1800s through the early 1900s. The name of this time period was given by Mark Twain and Charles Dudley Warner in their book The Gilded Age: A Tale of Today which expresses this time using two stories. One of a Tennessee family trying to sell undeveloped land and the other of two upper class businessmen. This book visits the highs and lows of living in this age. Those who are rich and plentiful, and those who are dirt poor. Showing the struggle people went