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The Robber Barons: The Classic Account of the Influential Capitalists Who Transformed America's Future
Rockefeller, Morgan, Vanderbilt, Carnegie, Harriman, Gould, Frick ... this is the story of the giant American capitalists who seized economic power after the Civil War and altered the shape of American life forever.
486 pages, Kindle Edition
First published June 1, 1934
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Displaying 1 - 30 of 36 reviews
August 27, 2014
Where I got the book: purchased used on Amazon.
The Robber Barons was written in 1934, but there’s not much that seems dated about this enjoyable popular history. I bought it to get a better idea of what the industrial leaders of the late nineteenth century were like; usually I like to look for the most modern source on the assumption that they will have done more extensive research, but there’s something to be said for the argument that a writer closer in time to the actual events will have a more intimate perspective on them.
All historians, of course, have a bias, and Josephson’s is pretty clear. He clearly admires what was going on in Russia at the time of writing, and he has read and thoroughly digested Marx’s writings. He was writing at a time when the pendulum had swung the other way from where it had been at the turn of the century—after the stock market crash and the Great Depression, moves were being made to ensure that corporations no longer had the freedom they’d once had and there was a trend toward enacting laws in favor of the ordinary worker, using taxation and legislation to slow down the rapid acquisition of personal and corporate fortunes.
But Josephson was looking back to the period that began with the Civil War, when there was little in the way of regulation and a number of individuals, often from very humble origins, were able to use their tenacity and shrewdness to build an enormous power base in their own fields, aided by the massive expansion of the United States at that time. The names are familiar ones: Carnegie, Rockefeller, Morgan, Gould, Armour, Astor, Vanderbilt—men whose ambitions not only built them fortunes beyond imagining, but brought about America’s second industrial revolution on a scale as vast as the country.
The process was one not just of tremendous battles in the stock market, but actual battles on the ground, with bloodshed in many cases. Josephson tells some thrilling tales of men struggling to lay track ahead of their competitors, engaging in bloody battles over a railroad line or its cargo, ruining their own health by empire-building, manufacturing fortunes out of nothing by a cunning process of borrowing and inflating.
I’ll admit it, I was enthralled. And it all seemed very familiar—corporate greed built on ever-lowering wages and long hours, headed by men who could look you straight in the eye and tell you they were doing this for the good of the country. Josephson goes into detail about the purchasing of politicians, evidently by the bushel, and the tactics deployed to ensure the failure of the nascent unions in their attempts to alter the balance of power. In the 1870s and 1880s such maneuvers were carried out quite openly and gleefully—it was only as the twentieth century neared, Josephson shows, that the next generation of barons began turning to the professional lobbyist and the public relations expert to obfuscate their own involvement in bending the rules to suit themselves.
I’ve been trying to learn more about the period between the Civil War and the Gilded Age of the 1890s, and this book has probably supplied me with more useful information on that under-studied period than any other I’ve read so far. It may be an older title, but I’d recommend it to students of American history without hesitation.
The Robber Barons was written in 1934, but there’s not much that seems dated about this enjoyable popular history. I bought it to get a better idea of what the industrial leaders of the late nineteenth century were like; usually I like to look for the most modern source on the assumption that they will have done more extensive research, but there’s something to be said for the argument that a writer closer in time to the actual events will have a more intimate perspective on them.
All historians, of course, have a bias, and Josephson’s is pretty clear. He clearly admires what was going on in Russia at the time of writing, and he has read and thoroughly digested Marx’s writings. He was writing at a time when the pendulum had swung the other way from where it had been at the turn of the century—after the stock market crash and the Great Depression, moves were being made to ensure that corporations no longer had the freedom they’d once had and there was a trend toward enacting laws in favor of the ordinary worker, using taxation and legislation to slow down the rapid acquisition of personal and corporate fortunes.
But Josephson was looking back to the period that began with the Civil War, when there was little in the way of regulation and a number of individuals, often from very humble origins, were able to use their tenacity and shrewdness to build an enormous power base in their own fields, aided by the massive expansion of the United States at that time. The names are familiar ones: Carnegie, Rockefeller, Morgan, Gould, Armour, Astor, Vanderbilt—men whose ambitions not only built them fortunes beyond imagining, but brought about America’s second industrial revolution on a scale as vast as the country.
The process was one not just of tremendous battles in the stock market, but actual battles on the ground, with bloodshed in many cases. Josephson tells some thrilling tales of men struggling to lay track ahead of their competitors, engaging in bloody battles over a railroad line or its cargo, ruining their own health by empire-building, manufacturing fortunes out of nothing by a cunning process of borrowing and inflating.
I’ll admit it, I was enthralled. And it all seemed very familiar—corporate greed built on ever-lowering wages and long hours, headed by men who could look you straight in the eye and tell you they were doing this for the good of the country. Josephson goes into detail about the purchasing of politicians, evidently by the bushel, and the tactics deployed to ensure the failure of the nascent unions in their attempts to alter the balance of power. In the 1870s and 1880s such maneuvers were carried out quite openly and gleefully—it was only as the twentieth century neared, Josephson shows, that the next generation of barons began turning to the professional lobbyist and the public relations expert to obfuscate their own involvement in bending the rules to suit themselves.
I’ve been trying to learn more about the period between the Civil War and the Gilded Age of the 1890s, and this book has probably supplied me with more useful information on that under-studied period than any other I’ve read so far. It may be an older title, but I’d recommend it to students of American history without hesitation.
June 23, 2010
5.0 stars. In my opinion, this is the best book written on the subject of the economic transformation of the U.S. after the Civil War through the early 1900 told through the stories of the rise (and fall) of the giants of capitalism that created the modern U.S. Economy. Included are the stories of Rockefeller, Morgan, Vanderbilt, Carnegie, Harriman, Gould and Frick. I absolutely loved it and highly recommend it to anyone interested in the subject.
October 29, 2017
Hopelessly biased book about the Robber Barons, who grew rich during the latter half of the 19 century, and introduced concepts such as conspicuous consumption. Some facts, a lot of opinions.
December 29, 2014
This chronicles the post civil war to early 1900s greed grab of some of the greatest scoundrels in American history. Vanderbilt, Astor, Rockefeller, Carnegie, J.P Morgan, Harriman, and the slithery Jay Gould. Immoral Capitalist pig scumbags who made money no matter what the cost (to others) through steel, oil, banking, coal and especially through the railroads. At that time if you controlled the railroads you 100% controlled all shipping and movement of goods so they got their cut even if it wasn't an industry that they had a controlling interest in. Some of these peoples descendents are currently at the top of the food chain of the criminal globalist network that currently controls the world.
There was some but not enough in this about how they screwed over the working man and consumer but it was laugh out loud funny to see how they would backstab each other. In some cases they took great delight in completely destroying the very people who gave them their first break so they could get their feet in the door in the world of big business. It was funny to see how they would slander anybody who opposed them with the communist (never mind that these uber-capitalists had a huge hand in funding various communist revolutions themselves) slur, which worked well for these types well into the 1970s. Now the same types throw around terms like racist and terrorist in the same way at anybody that opposes them. Also it was not surprising to see how these same types then, as they do now, use immigration and the Christian church to their advantage. One thing I would liked to have seen in this book which wasn't even touched on is the belief many have that most of the Robber Barons were creations of and lackeys for banking houses based in Britain and Europe but overall this was an excellent book.
There was some but not enough in this about how they screwed over the working man and consumer but it was laugh out loud funny to see how they would backstab each other. In some cases they took great delight in completely destroying the very people who gave them their first break so they could get their feet in the door in the world of big business. It was funny to see how they would slander anybody who opposed them with the communist (never mind that these uber-capitalists had a huge hand in funding various communist revolutions themselves) slur, which worked well for these types well into the 1970s. Now the same types throw around terms like racist and terrorist in the same way at anybody that opposes them. Also it was not surprising to see how these same types then, as they do now, use immigration and the Christian church to their advantage. One thing I would liked to have seen in this book which wasn't even touched on is the belief many have that most of the Robber Barons were creations of and lackeys for banking houses based in Britain and Europe but overall this was an excellent book.
September 30, 2016
This is a very well researched piece that covers an enormous subject and period of history. There was so much in the way of industrial, financial, and capitalistic development. In this regard, the book is quite factual, though there are other scholars/authors that take issue with some of the details on the portrayal of characters such as Jay Gould (see the book The Mismeasure of a Man).
In this regard, I think the book could have gotten a final star from me if it had attempted to do less, but more with greater exposition and detail. It felt at times, like a lot of numbers, dates and people thrown out all at once. Though understandably so, I would love to see the same author attempt to hone in on a single event or person and tell the story from that point.
As a research piece, I am more than sure this book gets top marks. The many figures that are shown required so much work. However, if you're looking for narrative, this book could be better.
Completely separately, the dollar values that are set forth on some of the transactions are staggering; particularly if you transform them into today's dollars and realize that a single person was often behind the bulk of the financing. Inconceivable!
In this regard, I think the book could have gotten a final star from me if it had attempted to do less, but more with greater exposition and detail. It felt at times, like a lot of numbers, dates and people thrown out all at once. Though understandably so, I would love to see the same author attempt to hone in on a single event or person and tell the story from that point.
As a research piece, I am more than sure this book gets top marks. The many figures that are shown required so much work. However, if you're looking for narrative, this book could be better.
Completely separately, the dollar values that are set forth on some of the transactions are staggering; particularly if you transform them into today's dollars and realize that a single person was often behind the bulk of the financing. Inconceivable!
March 9, 2016
A long labor of love for my book group. I enjoyed the tremendous depths this book plumbed, but disliked the quick gloss of effects to unions, riots, labor disputes, and just the general effect of the emassing of riches on the everyday man. The workers in these factories worked for so little for so long. But this book focused on the stock market, legal aspects, and law changing effects of those hungry for power and money. I am grateful for this time in history for many reasons.
July 11, 2015
There is a difference between being historian and a writer. This writer should have been the former. So basically nothing has changed, only instead of railroads that were at least building industrial prosperity of the country, we have financial wizards that produce and build nothing except imaginary valuations on computer screen. The world burns faster than ever. Progress, ya know.
September 6, 2020
I read this book over a decade ago and have been recently reading Life at the Dakota, a book about late 1800's and the rise of New York City. It reminded me of the Robber Barons. So I decided to reread this book because my hackles have been up about our current US President Donald Trump.
It is so applicable to today that I am writing a review on it. The Robber Barons was written in 1934 and I really appreciate the real-time perspective of it because it enables one to get a glimpse of the behaviors and the impact of those behaviors of the society at the time.
"Josephson was writing at a time when the pendulum had swung the other way from where it had been at the turn of the century—after the stock market crash and the Great Depression, moves were being made to ensure that corporations no longer had the freedom they’d once had and there was a trend toward enacting laws in favor of the ordinary worker, using taxation and legislation to slow down the rapid acquisition of personal and corporate fortunes.
But Josephson was looking back to the period that began with the Civil War, when there was little in the way of regulation and a number of individuals, often from very humble origins, were able to use their tenacity and shrewdness to build an enormous power base in their own fields, aided by the massive expansion of the United States at that time. The names are familiar ones: Carnegie, Rockefeller, Morgan, Gould, Armour, Astor, Vanderbilt—men whose ambitions not only built them fortunes beyond imagining, but brought about America’s second industrial revolution on a scale as vast as the country.
The process was one not just of tremendous battles in the stock market, but actual battles on the ground, with bloodshed in many cases. Josephson tells some thrilling tales of men struggling to lay track ahead of their competitors, engaging in bloody battles over a railroad line or its cargo, ruining their own health by empire-building, manufacturing fortunes out of nothing by a cunning process of borrowing and inflating.
And it all seemed very familiar—corporate greed built on ever-lowering wages and long hours, headed by men who could look you straight in the eye and tell you they were doing this for the good of the country. Josephson goes into detail about the purchasing of politicians, evidently by the bushel, and the tactics deployed to ensure the failure of the nascent unions in their attempts to alter the balance of power. In the 1870s and 1880s such maneuvers were carried out quite openly and gleefully—it was only as the twentieth century neared, Josephson shows, that the next generation of barons began turning to the professional lobbyist and the public relations expert to obfuscate their own involvement in bending the rules to suit themselves."
The pendulum has swung back to this time and our current society has enabled corporations/lobbyists to get laws, particularly tax laws, written in their favor, putting the bulk of societal expense on the backs of the rapidly diminishing middle class and the poor.
This is happening today, folks. Trump is Jay Gould. That sociopathic, predatory, bullying, inflaming rhetoric, noisy, divide-and-conquer behavior is currently sitting in the White House. Lest anyone forget the consequences of such a thing, I highly recommend you read this book. As the societal whole the gap between the upper rich and the rest of society continues to widen with the likes of Bezos, Kochs, Gates, Buffett, Zuckerberg, etc. It is appalling and sobering. They say those who do not learn from history are doomed to repeat it.
We are repeating it.
We are repeating it.
It is so applicable to today that I am writing a review on it. The Robber Barons was written in 1934 and I really appreciate the real-time perspective of it because it enables one to get a glimpse of the behaviors and the impact of those behaviors of the society at the time.
"Josephson was writing at a time when the pendulum had swung the other way from where it had been at the turn of the century—after the stock market crash and the Great Depression, moves were being made to ensure that corporations no longer had the freedom they’d once had and there was a trend toward enacting laws in favor of the ordinary worker, using taxation and legislation to slow down the rapid acquisition of personal and corporate fortunes.
But Josephson was looking back to the period that began with the Civil War, when there was little in the way of regulation and a number of individuals, often from very humble origins, were able to use their tenacity and shrewdness to build an enormous power base in their own fields, aided by the massive expansion of the United States at that time. The names are familiar ones: Carnegie, Rockefeller, Morgan, Gould, Armour, Astor, Vanderbilt—men whose ambitions not only built them fortunes beyond imagining, but brought about America’s second industrial revolution on a scale as vast as the country.
The process was one not just of tremendous battles in the stock market, but actual battles on the ground, with bloodshed in many cases. Josephson tells some thrilling tales of men struggling to lay track ahead of their competitors, engaging in bloody battles over a railroad line or its cargo, ruining their own health by empire-building, manufacturing fortunes out of nothing by a cunning process of borrowing and inflating.
And it all seemed very familiar—corporate greed built on ever-lowering wages and long hours, headed by men who could look you straight in the eye and tell you they were doing this for the good of the country. Josephson goes into detail about the purchasing of politicians, evidently by the bushel, and the tactics deployed to ensure the failure of the nascent unions in their attempts to alter the balance of power. In the 1870s and 1880s such maneuvers were carried out quite openly and gleefully—it was only as the twentieth century neared, Josephson shows, that the next generation of barons began turning to the professional lobbyist and the public relations expert to obfuscate their own involvement in bending the rules to suit themselves."
The pendulum has swung back to this time and our current society has enabled corporations/lobbyists to get laws, particularly tax laws, written in their favor, putting the bulk of societal expense on the backs of the rapidly diminishing middle class and the poor.
This is happening today, folks. Trump is Jay Gould. That sociopathic, predatory, bullying, inflaming rhetoric, noisy, divide-and-conquer behavior is currently sitting in the White House. Lest anyone forget the consequences of such a thing, I highly recommend you read this book. As the societal whole the gap between the upper rich and the rest of society continues to widen with the likes of Bezos, Kochs, Gates, Buffett, Zuckerberg, etc. It is appalling and sobering. They say those who do not learn from history are doomed to repeat it.
We are repeating it.
We are repeating it.
August 22, 2021
Whew! I can't believe I finally finished this! Packed with more details than I really cared to know, but I can't deny that I learned a lot, and my view of American history has been vastly widened. The book is pretty uneven, some sections are dreadfully dull and endlessly repetitive, while others zip by like lightning. Written in the 1930's, the author's distain for the 'barons of industry' practically drips off the page. Certainly doesn't have the scholarly, emotionally detached style that we tend to expect from our modern history writers, but then, he's living in the middle of the damage wrought by greed and arrogance, so I can't blame him too much. I wouldn't recommend it, but I don't regret reading it.
November 28, 2025
in short, I enjoyed the book. it makes an argument you can agree or disagree with, but in ANY system you'll have a spontaneous organization that will rise up to the top....is that nefarious in and of itself? look...2+2=4 is correct, isn't it?
but it's not correct because of the integer 4, it's correct because of: 2+2, it's correct because of the process.
these arguments are academic! I'm not giving them a pass for any illegal activity or negative moral choices, I'm saying that the more agency anyone has, the more affect they have on their surroundings -like gravity.
they were born at the correct time into a system where they were able to figure out And, they weren't the only "rich" families living at the time.
still though, I enjoyed reading about history from the ground up.
but it's not correct because of the integer 4, it's correct because of: 2+2, it's correct because of the process.
these arguments are academic! I'm not giving them a pass for any illegal activity or negative moral choices, I'm saying that the more agency anyone has, the more affect they have on their surroundings -like gravity.
they were born at the correct time into a system where they were able to figure out And, they weren't the only "rich" families living at the time.
still though, I enjoyed reading about history from the ground up.
October 6, 2021
A book written in 1930s....found it difficult to read...given its archiac sentence construction, wierd simile and too many characters.... nevertheless it has gems scattered across...can be skipped if you want to read it for general history of robber barons(u can pick up alternates that are more recent)...but a must read if you are a keen student of early capitalism, history of monopoly or want an understanding of what absence of anti-trust laws can do...giving it a three just to point out that the book is probably past its age of being a general read..
April 27, 2008
A great historical overview of how concentrated capital came to be and learned to manipulate the public for its own ends leaving the public with all the risk and the monopolists with all the profits, and how this model still persists to the present day in companies such as Microsoft, Telecoms, among many other industries.
One downside of the book is that it was written in 1935 and hasn't been updated since, using the old prose of that era, making it at times a bit hard to read for non-native speakers, and slow for even native speakers. Having said this, it lacks contemporary examples of present day exploits of how corporations emerged to be as powerful as they are today, linking the present with the past... thought it's obvious, isn't it?
One downside of the book is that it was written in 1935 and hasn't been updated since, using the old prose of that era, making it at times a bit hard to read for non-native speakers, and slow for even native speakers. Having said this, it lacks contemporary examples of present day exploits of how corporations emerged to be as powerful as they are today, linking the present with the past... thought it's obvious, isn't it?
February 23, 2017
Great book, very well written and researched
July 11, 2018
This book is certainly a product of its time. First published in 1934 at the height of the Great Depression, this is a damning look at the men who arose around the Civil War and after and how they basically looted the country with government give-aways of land and tax breaks (railroads). They did work hard but this book is careful to emphasize that these were miserable people who couldn't really even enjoy the spoils they work so hard to show off because they were so fearful of losing out (and that did happen as new talented, ruthless players entered the scene). The basic takeaway from this book is the only control on rich jerks are other rich jerks who want in on the action. Although this is good overview and history of the new industries post Civil War and the principal movers and shakers, I rated this book at 3 stars because the writing style is difficult to follow (this really is interesting stuff) and there is certainly a bias although understandable.
April 12, 2019
Brilliant, timeless depiction of America's post civil war establishment.
I personally found this book extremely educational.
I believe there are many analogies of which may be constructed & observed throughout human history, of which are presented here.
By depicting America in such matter of fact terms, this title lends itself to a study on human nature itself.
America at the time of which it is presented in this text, being exposed to extremely unique yet powerful circumstances, whereby the country as a whole presents itself as establishing itself as extremely prosperous whilst simultaneously establishing independence, in every sense of the word.
I believe under these unique circumstances we are gifted the powerful insight of fundamentally how society constructs itself, of which we may all learn how & why decisions & constructs are applied & maintained throughout.
Strongly recommend.
I personally found this book extremely educational.
I believe there are many analogies of which may be constructed & observed throughout human history, of which are presented here.
By depicting America in such matter of fact terms, this title lends itself to a study on human nature itself.
America at the time of which it is presented in this text, being exposed to extremely unique yet powerful circumstances, whereby the country as a whole presents itself as establishing itself as extremely prosperous whilst simultaneously establishing independence, in every sense of the word.
I believe under these unique circumstances we are gifted the powerful insight of fundamentally how society constructs itself, of which we may all learn how & why decisions & constructs are applied & maintained throughout.
Strongly recommend.
December 28, 2019
A fascinating and infuriating dive into the industrialists of railroads, steel, and oil, who are rightly labeled "Robber Barons." This history interwoven with our present and recent past in the United States shows how vile the underbelly of their kind of "capitalism" truly is in our country, and how its sickness continues to pervade every major activity this country seems tied up in.
Many of the biggest names of our US history, and many others that you may not know, are shown under the light of the gruesomeness of their actions, rather than the history we're generally shown oof their "contributions to society."
Sadly, it seems lessons that could have been learned, and actions which could have been taken, remain still on the sidelines. Perhaps a new opportunity to right the ship will emerge in this new decade.
This was a good read, and I highly recommend it.
Many of the biggest names of our US history, and many others that you may not know, are shown under the light of the gruesomeness of their actions, rather than the history we're generally shown oof their "contributions to society."
Sadly, it seems lessons that could have been learned, and actions which could have been taken, remain still on the sidelines. Perhaps a new opportunity to right the ship will emerge in this new decade.
This was a good read, and I highly recommend it.
April 5, 2025
Originally written in 1934, republished in 1962, this book is still quality reading. If you ever wanted to understand how the great multi-millionaires and monopolies got started in the United States in the late 1800’s. Starting right before the civil war, this book traces a handful of industrial revolutions in the United States, shipping, railroads, oil and gas, investment banking, etc. and it provides the details on how the historical families that you know accumulated and made their great wealth. To understand this is to understand how our nation was formed and how it became powerful enough to be on the big stage worldwide in the 1900’s. I’m glad I read this book. To readers, it is sometimes a maze of detailed competitor names and lesser individuals. But by pulling through it you get an appreciation of what they went through.
December 26, 2019
A superb study of the :robber barons," the contribution they made to American economic development and the rapacity with which they exploited America along the way. The great fortunes of the 19th century were made by convincing, legally or illegally, government officials to underwrite great strategies, like the railroads, while allowing all gain to accrue to those who dared promote these stratagems. Basically, they got rich at public expense and then used their riches, as they still do, to maintain their privileged position. A tax on wealth at this point is basically a demand for a return of the original investment that made them rich n the first place.
May 9, 2018
A well written and comprehensive book on the Barons of Industry from the early 19th century with Cornelius Vanderbilt to the time of Theodore Roosevelt and the busting of the Trusts. Speaks quite a bit about Vanderbilt, Jay Gould, John Rockefeller, Andrew Carnegie and J.P. Morgan and their acquisitions. but also goes into others of this age who were smaller in scale, especially out west but still examples of the age. I would recommend this for those interested in the history of this period and of early business.
December 12, 2024
A classic written in 1934 (with a new foreword in 1962), somehow I got through my high school and college years without reading. Certainly not for "pleasure" reading, this book focuses on the Gilded Age from after Reconstruction up to the First World War and provides excrutiating detail on the men who were able to become unbelievably wealthy with a corrupt legislative and judicial system providing them the framework. In my view, an important study in light of contemporary U.S. events, and an era that should be better studied today.
February 20, 2019
This is the story of American capitalists who became rich after the Civil War: Rockefeller, Morgan, Vanderbilt, Carnegie and many others. Most were ruthless and developed monopolies that destroyed others. I don’t think any of these men were happy with their lot. Were worried about losing it or not having it all. This was not my favorite book or author but it was an eye opener.
April 19, 2023
This book was a disappointment. It takes a very biased view toward the rise of the “robber barons.” The truth about the rise of big business during the Gilded Age was much more nuanced. There were pros and cons, villains and hero’s and this book takes a decidedly negative perspective. It may be worth a read to understand the opposition to capitalism, but I would not recommend it.
April 19, 2022
Great topic and content. Just a bit long winded and not as clear as it might be.
The facts are clear, the abuse of the legal system the arrogance, violence law breaking and underlying monstrous greed and selfishness are timeless and al pervading. Then as now.
The facts are clear, the abuse of the legal system the arrogance, violence law breaking and underlying monstrous greed and selfishness are timeless and al pervading. Then as now.
Read
August 22, 2023It was thorough and as a result, informative and somewhat tedious. The interplay among the Robber Barons and their families brought interest and intrigue to the book.
December 19, 2023
Nothing has ever made me want to seize the means of production more…
December 15, 2014
This was a wonderfully written, insightful, and often subtly humorous account of the lives of the businessmen who laid the foundations of American enterprise in the 1800s. Josephson points out regularly that this was not done as a service to the public. These guys were ruthless accumulators who engaged in all sorts of cut-throat activities in order to come out on top. The stock market was their roller coaster, and it is interesting to see how it was forced up and down and all over the map by the manipulations of these men. Josephson deserves credit for making it a book not just about business, but also about men, and their values and approaches to life. There are fascinating characters here: Daniel Drew, Cornelius Vanderbilt, Jay Gould, Jay Cooke, John D. Rockefeller, J.P. Morgan, Edward Harriman, Jim Hill, Henry Villard, Collis Huntington, and Andrew Carnegie to name a few. Josephson discusses their characters and business dealings, their struggles with the government, and their titanic battles with one another. There are fascinating accounts of railroad stocks being bid up (and up, and up!) by struggles for control, only to come crashing suddenly down. The author begins with the railroads and the tale of their often-troubled westward expansion, before moving on to steel, oil, and banking.
The book was written in 1934 but is still in print, and rightfully so, since the stories it contains are still vital, and the prose style is more colorful and eloquent than one is likely to see today. Some readers seem to be perturbed by Josephson's largely negative view of these men, and have called him a Marxist and the like. It is true that he does not hold back from making moral judgements (e.g. one chapter focusing on Gould is titled "Mephistopheles") - but the book does appear to be an accurate, honest, well-researched account. It is important to keep in mind that the times being portrayed here are different from our own in many ways. Clearly at least some of these men (like Rockefeller, who was a Sunday school teacher) viewed themselves as being hardworking, moral gentlemen who were doing the difficult work of growing the nation's industries, something which they undeniably succeeded in doing.
The book was written in 1934 but is still in print, and rightfully so, since the stories it contains are still vital, and the prose style is more colorful and eloquent than one is likely to see today. Some readers seem to be perturbed by Josephson's largely negative view of these men, and have called him a Marxist and the like. It is true that he does not hold back from making moral judgements (e.g. one chapter focusing on Gould is titled "Mephistopheles") - but the book does appear to be an accurate, honest, well-researched account. It is important to keep in mind that the times being portrayed here are different from our own in many ways. Clearly at least some of these men (like Rockefeller, who was a Sunday school teacher) viewed themselves as being hardworking, moral gentlemen who were doing the difficult work of growing the nation's industries, something which they undeniably succeeded in doing.
December 12, 2016
Josephson's book is important mainly in proving that the so-called captains of industry were financial pirates who built their empires on the backs of impoverished miners, railroad workers, foundry workers, and countless others. Even if they later put huge sums of money into philantopic endeavors in a PR effort to clean their reputation, their imprint on the American industry and American experience in general was stupendous. Josephson could have devoted more space to the union struggle in the time period he looked at but it is still a powerful book, especially in the time of huge bailouts, "too big to fail" corporations, and historic revisionism.
August 23, 2007
best written book on the subject. you really get a sense of the flush times, and leave wanting your own printing press to water your stocks with. by an editor of the downtown little renaissance magazine, BROOM, in the 1910's, so its literary.
Read
August 1, 2008Polemical, yet informative. The abuses of capitalism in this period were so great that you really weep with joy when TR becomes president.
Read
March 14, 2016paperback 6x9
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