• This is a pejorative term used to describe American businessmen of the late 19th century who used unethical business practices to get rich.
• It has been used over the years to justify more laws to limit the domination of the market by large corporations.
• Industrialists like John D. Rockefeller and Cornelius Vanderbilt are the most common targets of criticism against the robber barons.
• Others, however, have argued that most American industrialists during the period engaged in free competition that helped consumers enjoy better products at lower prices.
• They further argue that it was only businesses with political influence who misused their power.

Source:TH