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How do politics affect international trade
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According to Google Dictionary, democracy can be defined as control of an organization or group by the majority of its members. This means power should be divided among the population and not centralized in one location or placed in the hands of one man. If going by this definition, Cornelius Vanderbilt posed a major challenge to democracy in the United States by monopolizing the railroad industry, manipulating the legislature and his competitors into doing exactly what he wanted them to do, and by passing down the majority of his fortune in an attempt to build a Vanderbilt dynasty.
The majority of Vanderbilt’s power came from his many successful corporations. Notably, Vanderbilt’s control over the New York Central Railroad, the Hudson River Railroad, and the New York and Harlem Railroad gave him almost complete control over the railroad industry in New York. He had very little competition. When one person has complete control of a service this is called a monopoly. The threat of a monopoly frightened many Americans; they believed the Commodore
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would have too much power for anyone to stop him, including the government. “Vanderbilt is but the precursor of a class of men who will wield within the state a power created by it, but too great for its control, explains Charles Francis Adams.” Vanderbilt was an incredibly powerful man who always found a way to get what he wanted.
Another way he challenged democracy was by buying off legislature and controlling how they voted. Vanderbilt’s enormous fortune gave him great power; however, one of the Commodore’s greatest attributes was his ability to manipulate others into doing what he wanted them to do to further his own agenda. An example of Vanderbilt’s wit is his ability to plan schemes out years in advance. He would set traps and patiently wait for others to fall into them then he would swoop in and takeover. Charles Francis Adams, Jr. described Vanderbilt by saying he “has sought to make himself a dictator in modern civilization… As trade now dominates the world, and the railways dominate trade, his object has been to make himself the virtual master of all by making himself absolute lord of the railways.” No amount of power was ever enough for
Vanderbilt. Cornelius Vanderbilt strived for immortality; he wanted his name to live forever. The Commodore tried to turn the Vanderbilt name into a powerful dynasty that would maintain control of America for years to come. In an attempt to do that, he trained his eldest son to take over the family business and left him the majority of his wealth, the way kings or other nobility pass down the crown in a monarchy. Jay Gould referred to Vanderbilt as the “king of everything.” Unfortunately, there is no place for a king in a democratic nation like the United States.
Cornelius Vanderbilt was a captain of industry. He came from a poor family and turned into a captain of industry controlling 85% of rail road and inspiring others to follow suit. He did many great things and not so great. Went from making a steamboat ferry to Grand Central Station. By the end of his life he had more than $100 million dollars.
Andrew Carnegie, the monopolist of the steel industry, was one of the worst of the Robber Barons. Like the others, he was full of contradictions and tried to bring peace to the world, but only caused conflicts and took away the jobs of many factory workers. Carnegie Steel, his company, was a main supplier of steel to the railroad industry. Working together, Carnegie and Vanderbilt had created an industrial machine so powerful, that nothing stood in its path. This is much similar to how Microsoft has monopolized the computer software
According to the Merriam-Webster dictionary Democracy is a form of government by the people; especially: rule of the majority(Webster). This is what the United States is represented as, and this is based on the United States Constitution from which the United states draws all legal powers. In Robert Dahls book How democratic Is the American Constitution? He challenges this idea by trying to appeal to his readers in a way that they may view the United States Constitution in a different light. Dahl does this by pointing out flaws that the Constitution has and, draws on facts based on the other democracies around the world that the United States is compared too. He points out how many democratic ideas and innovations have a occurred since the conception of the American Constitution yet it has only adopted some of those idea.
Vanderbilt, the entrepreneur himself, soon controlled much of the Hudson River. After awhile, his fellow competitors in the steamboat business paid him to take some of his traffic elsewhere so that he wouldn’t get all the work. By 1846 Vanderbilt was a very wealthy man and with wealth he learned to cam power. He became widely known as the Commodore Vanderbilt. Vanderbilt sold his steamboats in 1862 and began buying railroad stocks.
As mentioned, it is accurate to allot the title of “robber baron” to the industrial leaders of the time in that they employed various, considerably unethical, methods in order to obtain untold riches. Such a notion is quite evident in William H. Vanderbilt’s own words, that, “[t]he railroads are not run for the benefit of the ‘dear public’-that cry is all nonsense they are built by men who invest their money”. (Document A) Vanderbilt even goes so far as to say something such as, “[t]he public be damned”, so to demonstrate he does not care for the opinion and state of the public, but rather only of his own and of his fellow financiers. Such statements prove that Vanderbilt sought to further his wealth, whether or not ...
Businessmen of the Gilded Age like Carnegie, Rockefeller, Morgan, and Vanderbilt were captains of industry. Industrialists economically improved the United States by contributing the most money, which was made from the successes of their companies. In addition, they were financially beneficial to communities and set an example of philanthropy and lifestyle for others to follow. Moreover, they resorted to unscrupulous tactics not only for their financial gain, but for America’s financial gain as well.
Before that can be established, I think a definition of democracy should be stated so that it may be called upon later in this essay. According to the American Heritage Dictionary, democracy is stated as "the principle of social equality and respect for the individual within a community" .
The want for wealth saturates everyone’s mind at one point or another. Almost everyone dreams of having the large mansion near the beach, the multiple cars, etc., but this money does not just come, it either has to be inherited or earned. During the 1800s, most wealth was inherited, but there were a few self-made men that worked their way from the bottom to the top in order to become wealthy. One man in particular influenced wealthy men to come like Andrew Carnegie and Rockefeller. He was able to begin many of the ideas brought about during the Gilded Age because not only was he a major influence in society, but he greatly changed the economy and the industries he was involved in during that time. Lastly, he modernized commerce for businessmen to come. Cornelius Vanderbilt has become one of the most famous names in American history because of the everlasting positive changes he introduced to the country. Cornelius Vanderbilt was an inspiration for future wealthy personas of the Gilded Age because he fought to limit competition in the developing railroad and steamboat industries; his tactics in these industries lead him to great wealth, which helped him wield enormous power and influence over the American economy and politics.
While Carnegie held the aptitude for greatness regardless of his surroundings, without free enterprise, he would not have even had to option to take a chance or to explore new ideas. In regulated economies, not only is the currency and producer-consumer relationship controlled by the government, many times the media is as well, as not to create a system in which citizens long for something else. In this case Carnegie would not have had the access to the learning resources that he did, and would never have learned how to use a telegraph machine. There would have been no room for lateral growth, and the world as we know it may not exist without Carnegie’s courage and yearning to better himself and the world.
Smart, powerful, wealthy, a promoter, a contributor, but most importantly, a businessman. These are all words that describe Cornelius Vanderbilt. Cornelius Vanderbilt was a well known and very successful person in the shipping and railroad industry. He always sought out new business oppurtunities, and was always thinking a step ahead on how he was going to make money next. Cornelius Vanderbilt’s business strategies and immense skills in the industry made him over 100-million-dollars throughout his lifetime.
He was already in his later years by the time the Gilded Age rolled around and didn't even get to see the uprising of some of the greatest leaders of the time. The railroad companies took advantage of their necessity by constantly overcharging customers, especially farmers. This led to one of the first labor unions in the United States, an organization known as the Grange.... ... middle of paper ...
Starting off from the very beginning, young Vanderbilt was able to start his own business. At the age of sixteen, Vanderbilt decided to start his own ferry service with the loan he received by working through his Mother. With the one hundred he was able to obtain, by clearing and planting eight-acre field, Vanderbilt purchased two small vessels and carried freight and passengers from Manhattan to Staten Island. By being able to utilize his own earnings in order to start up a business for a chance to make an even more of a profit, Vanderbilt was in a road to become a successful entrepreneur. Vanderbilt successfully was able to return his mother’s loan with an additional $1,000 or roughly $25,000 today. This action proves that even at the very start, Vanderbilt proved to be reliable and efficient. He even prospered at the age of 18 during the War of 1812. He realized that there was an opportunity for expansion and thus, he received a contract to supply for the forts all around New York. By doing so, he was then able to build more vessels for more trade. By the end of the war, Vanderbilt was able to establish himself and gain the trust of many. People found him to be hardworking and reliable, just what a business needs in order to thrive.
Democracy in the United States became prominent in the early to mid 19th century. Andrew Jackson, the 7th president of the United States, was inaugurated in 1829 and was best known as the person who mainstreamed democracy in America. Because he came from a humble background, he was the “genuine common man.” (Foner, pg. 303) He claimed he recognized the needs of the people and spoke on behalf of the majority [farmers, laborers]. However, critics of Jackson and democracy called him “King Andrew I” because of his apparent abuse of presidential power [vetoing]. These critics believed he favored the majority so much that it violated the U.S. constitution, and they stated he was straying too far away from the plan originally set for the United States. Because of the extreme shift of power to the majority, the limiting of rights of the few [merchants, industrialists] and the abuse of power under Jackson’s democracy, the foundational documents set in the constitution was violated, and the work of the preceding presidents were all but lost.
“I don’t care half so much about making money as I do about making my point, and coming out ahead”, said Vanderbilt prior to his death. Vanderbilt transformed the rail and shipping industry, paving way for new jobs and opportunities. Vanderbilt unequivocally made abounding decisions and points over the course of his prosperous career. Prior to Vanderbilt’s death, he was known as the wealthiest man on the earth. Striving for perfection, Vanderbilt proved that his points were effective, and his arbitrations were valuable to
A memorable expression said by President Abraham Lincoln reads, “Democracy is government of the people, by the people, and for the people”. Democracy, is a derived from the Greek term "demos" which means people. It is a successful, system of government that vests power to the public or majority. Adopted by the United States in 1776, a democratic government has six basic characteristics: (i) established/elected sovereignty (where power and civic responsibility are exercised either directly by the public or their freely agreed elected representative(s)), (ii) majority rule(vs minority), (iii) (protects one’s own and reside with) human rights, (iv) regular free and fair elections to citizens (upon a certain age), (v) responsibility of