The term “robber baron” was conjured up for the wrong reasons and continues to stay alive. It turns up conveniently for the media, which helped make it popular many decades ago.
Robber baron was originally used to maliciously represent tycoons who developed our oil, steel, telegraph, railroad and other basic 19th century industrial revolution enterprises. The term is used to describe ruthless, dishonest businessmen, bankers or successful entrepreneurs.
It took aggressive business people to succeed in those days. Rules were not the over-regulated variety of today. Were today’s in effect, much of the development of our own industrial growth would have been stifled. (See the Earl J Weinreb NewsHole® comments.)
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