Whenever I cover Vanderbilt, Morgan, Carnegie, Rockefeller, Gould and others in class, the overall first impression my students give me is that the "titans of industry" were really "robber barons" who capitalized on people in order to obtain wealth. Yet a closer examination is necessary, and it reveals that these men knew what created wealth: please thousands or millions of people.
As I hear presidential candidate John Edwards villify the oil companies, I think about The Myth of the Robber Barons by Burton W. Folsom. Also, here's an article from the June, 1998 issue of The Freeman: Ideas on Liberty, called The Ghost of John D. Rockefeller. Thanks to The Foundation for Economic Education for publishing Thomas DiLorenzo's article.
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