The Robber Barons-U.S. History #41

Monopolies and the economics of the Gilded Age.

[RouabhiaTeaching]

The only historical presentation series I can watch for hours without losing interest or attention.When I watch your lectures, I feel as if I have traveled in time to the historical era you're talking about Thanks a lot for the clarity. You are a source of inspiration for everyone, especially history teachers, who want to make the study of history more interesting and less dry. Thanks a lot.

[warfarinoverdose]

I'm a late bloomer to the series, but I'm hooked up on it. I've been following it for 3 months and your lectures are awesome, very detailed in comparison to similar yt content. You remind me of my high school history teacher that was also great lecturer. Subscribed and I hope you will start another series, no matter what time era or country. Greetings from Croatia!

[thattimestampguy]

1:34 Robber Barons.
3:04 America Self-Sufficiency 1776
3:44 Market Economy 1850s
5:28 Cost of Shipping
6:20 Technologies lower cost of shipping
7:04 Business Kings 👑
7:47 Monopoly
9:02 Railroad Monopoly 🛤️ 🚂
10:14 Vertical and Horizontal Integration.
11:31 Horizontal Integration-specific industry takeover. Own the market on steel ex.

*John D. Rockefeller: Oil Monopoly*
12:30 John D. Rockefeller.
+ cost cutting
+ efficiency bringer
14:42 Oil Refining 🛢️
+ oil extraction from the ground. 16:27 clean the dirty oil.
16:56 Standard Oil of Ohio.
17:23 Buying out his competitors
19:44 Selling at a loss to eliminate competition.
20:44 Interstate Business.
21:20 Standardizing, don’t hate the player hate the game.
21:53
23:11 Strongarm Manipulation of business allies.

24:20 Regulate The Monopolies! No, said Gilded Age Republicans.
25:14 Laisse Faire and Pro-Business.
26:18 (“Everyone’s got a price.” Money can corrupt)
27:15 Donating to Charity
28:05 He is so wealthy. Trillion Dollar Man!
28:43 Money and Politics

*Legal Response to Monopolies*
30:15 Ownership Law
30:56 1887 Public pressure Interstate Commerce Comission.

34:55 Business Trusts
1890 Sherman Anti-Trust Act
36:18 Federal breaking of monopolies.
36:44 Prove, Investigate.
37:37

[perdido]

I like these guys. After they strong arm everyone else out of business and increase prices, they give some of that money back to charities. Then they build nice museums that most people can't travel to and those who can get to look at all the nice things they bought. And then they buy the newspapers to teach me what to think and maybe fund some schools to further teach me what great guys they really are.

[Knosferatu]

This is some incredible presentation. I like your improvised young Rockefeller with cutting costs as well. Great job man gonna watch from episode 1.

[patrickmccarron]

You could buy a whole pre-built house from Sears with assembly instructions and pick it up at your local railroad station.

[Kristofur]

Bridges require massive maintenance and responsibility

[caroleeb]

'whatever the traffic will bare'....said the railroad robber baron

[greek]

Great video !!! I wish we had more political cartoonist and people who spoke out against this type of thing . Seems like the barons have figured out how to manipulate and manufacture blind trust and consent. Seems like America has been fighting this battle from the revolution . It's tough because it's a natural progression of a free society and the government is always playing catch up I just wish the humanity and desire to do the right thing when no one is forcing u to would prevail but humans are extremely flawed.

[TheseOfWe]

Thanks! Very informative and well explained! I agree: we shouldn’t hate the players. If it wasn’t Rockefeller it would’ve been someone else. It’s long past time we changed the game.

[nick]

id love to see you make a video on central banking!

[patrickmccarron]

The Railroad was like the first Internet and Interstate. Sears was the first Amazon.

[patrickmccarron]

Gasoline was a byproduct of oil refining and was considered too volatile to be useful. They used to dump it straight into the river and out to the ocean until the gasoline combustion motor was invented and provided way more horsepower than anything they had prior.

[kevinsysyn]

The key to all of this was the rail-road right-of-ways being awarded to private interests. The government should have built and owned the railways. The wealth of the Robber Barons emanated from ownership and control of the railroads; the development of cities, the access and acquisition of mineral and other resources, agricultural and animals products, things available or unavailable in other parts of the country. And of course they essentially owned or controlled all the real estate along both sides of the track everywhere the rail line went.

[danmcnerney]

Carnegie did produces the better steel making.

[ИринаКим-ъч]

Robinson Betty Perez Kenneth Harris Jeffrey

[patrickmccarron]

Democratic Party was for smaller government back then? - lol.

[moogiemoo]

Democrats were never into small I thot ... Hmm..