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...them. The Gilded Age was a turbulent period of unfettered capitalism and unfathomable wealth for them and their peers--an environment free of income tax, meddling regulators and other curbs on the animal spirits of freewheeling entrepreneurs. Yet these febrile decades, forever decried as the era of the robber barons, forged the tremendous engine of economic growth that propelled the country from rural isolationism in the 19th century to world industrial leadership in the 20th...

Author: /time Magazine | Title: Blessed Barons | 12/7/1998 | See Source »

Rockefeller, Carnegie and Morgan were not the only robber barons, of course. Edward H. Harriman fought Morgan for control of the railroads. Andrew and Richard Mellon founded four major companies, including Alcoa. But the scale on which Rockefeller, Carnegie and Morgan operated was unprecedented, paving the way for a world of global companies and capital flows. And their money built a platform for philanthropy that has grown every bit as much as their corporations...

Author: /time Magazine | Title: Blessed Barons | 12/7/1998 | See Source »

This Puritan disdain for ostentation is a cherished tradition. After all, Thomas Paine penned Common Sense hoping to liberate Americans from the grip of ostentatious English aristocrats. In fact, the most poignant lesson in U.S. history teaches that today's Horatio Alger (see Andrew Carnegie) is tomorrow's robber baron (see Andrew Carnegie)--unless, of course, the baron performs a useful public service, such as owning a pro sports team or three, like 60-year-old Ted Turner, who also recently gave a billion dollars to the United Nations for humanitarian causes. Turner was following the tradition of the Astors...

Author: /time Magazine | Title: Palace Envy | 12/7/1998 | See Source »

...marketing wizardry, Gates blundered in displaying the same attitude that doomed certain robber barons. As writer Ambrose Bierce once gibed of Hearst, "Nobody but God loves him, and he knows it." Likewise, Gates' Xanadu has helped transform the boyishly charming geek into the Microsoft Monster, who is being chased by torch-bearing mobs brandishing antitrust suits. Nowhere in Gates' overwired palace is there a program to inform him how to act in the nation he lives in: the U.S. of A., in which throngs cheered the heavy-metal band Motorhead when it performed Eat the Rich and where Garth Brooks...

Author: /time Magazine | Title: Palace Envy | 12/7/1998 | See Source »

...gravy and a hairbrush and told `There you go.'" In "Real Estate," a woman named Ruth becomes so dissatisfied with her life that she finds metaphysical consolation only in firing guns. This story contain two plots, the other involving a man who loses his job and becomes an armed robber, only to cross paths with Ruth (for the second time, in truth...

Author: By Jason F. Clarke, CONTRIBUTING WRITER | Title: All Heroine, No High | 11/20/1998 | See Source »

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