Burton Folsom's The Myth of the Robber Barons is a short, but excellent book that argues that the mislabeled "Robber Barons" of the 19th century became wealthy not because they robbed anyone but because they offered quality products/services at record low prices. These productive giants made their fortunes because so many Americans chose to do business with them. There are several values to gain from this book. First, you...
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Folsom's book is accessible, eye-opening, and compelling. It is, I believe, the very best short work that punctures the prevailing myth of the robber barons. As Folsom shows, many of the most reviled "robber barons" were incredible benefactors of humankind - J. D. Rockefeller included. Folsom's chapter on Rockefeller is a special gem. In a few pages, Folsom demonstrates what a truly remarkable human being Rockefeller was...
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After reading the earlier review (below this one), I must say that I enjoyed this book immensely, and I am not a Conservative, and especially not a member of the Religious Right. This book sets the record straight about the "Robber Barons" and the attacks on them by the Muckrakers. It should be read by people of various political stands, whether they are Democrat, Republican, Libertarian, Moderate, etc. I loved the chapters...
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A central purpose of this book is to distinguish between 19th century political entreprenuers, who gained monopolies by co-opting the legislature and judicial apparatus of the state, and market entrepreneurs, who built railroads with private money or who developed a competitive presence in, for example, the early 19th century steamship business. The book discusses how J.D. Rockefeller reduced the cost of kerosene for millions...
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