History can repeat itself and it’s possible we’re experiencing a cycle that goes back centuries. “Robber baron” is a term applied to a businessman in the 19th century who engaged in unethical and monopolistic practices, wielded political influence and amassed enormous wealth.
The trend goes back centuries, including the Middle Ages, when feudal warlords gained control. Unlike the U.S., some countries have never experienced any other way of life, in conditions much like the Middle Ages, with all the money and power controlled by a clan of power barons.
Even in the U.S. the “clan of the robber baron” has prevailed. History repeats itself. In the 19th century, as we transformed into an industrial society with little regulation of business, it was possible for small numbers of men to dominate crucial industries. Conditions that favored vast accumulations of wealth included the extensive natural resources being discovered as the country expanded.
How quickly we forget. The concept of laissez-faire capitalism, which dictated no government regulation of business, was promoted. Facing few impediments to creating monopolies, engaging in shady stock trading practices or exploiting workers, some individuals made fortunes.
Not convinced? Look up “robber baron” online and see if it sounds familiar. Read the history of their rise and fall and the impact on the people under their control.
