Though the early twentieth century is often portrayed as an idyllic time for Americans with the Captains of Industry faithfully and kindly guiding the U.S. to unprecedented wealth, this is not an accurate view of this era in American history.
Though the Captains of Industry, like Carnegie, Rockefeller, Morgan and others, amassed great wealth and stimulated the U.S. economy, there were many problems pertaining to immigrants, labor, and other aspects of society. For example, immigrants were often crammed into big city ghettos in deplorable slum conditions, ôat the disposal of employers without whom they literally could not get food, clothing, [or] housingö (Wasserman 88). Unemployment was high and the rich barons of industry did not fail to capitalize on this by building their respective industries on the backs of men, women and children, ôAmerican industry was paid for in the broken backs and dead eyes of men, women, and children who were valued only as fuelö (Wasserman 88).
This era also saw the rise of the division between rich and poor as a virtual ônobility of wealthö was created among the ôFour Hundred,ö most of them related to or having connections to the titans of industry (Wasserman 87). Employees were treated to long hours, unsafe work, harsh working conditions and wages that barely provided sustenance. In 1913 alone, approximately one million industrial-related injuries were reported (Wasserman 87). As men like Carnegie, Morgan, and Rockefeller ruthlessly manipulated competitors and the U.S. economy, their personal fortunes grew providing them with enormous power over the government. According to Wasserman (85) laws were ômade to order; were bought and sold.ö
The Captains of Industry often hired Pinkerton detectives who used any means necessary, including violence, to intimidate competitors, keep employees subservient, and to combat any signs of rebellion that would injure their profits. Jay Gould m...