This episode has brought you buy, Katy keen from the creator of Riverdale comes a sparkling adventure in the big apple, full of fashion, drama and dreams colliding with real life, its new series, Katy Keen Thursdays, eight, seven central on the seat of EU or stream free on the sea, W app singer, songwriter Josie, Jorge with his eye on Broadway. It girl, pepper and fashioning a legend to be Katy in New York City of eight million. Therefore, of a kind high style has a new name, Katy keen the fashionable new series, Thursdays at eight, seven central on the sea, w or stream free any time on the sea that will you app, I gave my name is damaging. I've been working as a correspondent, an interview I, since I was thirteen and now

Seventeen- I am so honoured to be the youngest person to have our own tat, cast an eye. Her radio, its cause, let's be real with Sammy J in depth and unfiltered conversations with celebrities activists, athletes and influence, will cover topics where curious about topics. My guests are passionate about an topics. Many of us are just too afraid to talk about. I get past the fluff to what real we go there and its on pretty crazy and very revealing, listen to, We really Sammy Jane on the eye. Her review up apple part, gas or wherever you get your podcast, Welcome to stuff you missed in history class from Housetop looks dot com. Hello and welcomed the part time editor. Katy scenery join my fellow at a turkey ever left hand, and today we are going to talk about some very controversial man, the robber barons

have a legacy of being greedy capitalist jerks, but we're going to act. Talk about the notion of philanthropy and to do that You probably start back at the origins of the idea of philanthropy. Yes, and it has rather mythic origins She'll go with me here for a moment and accept that MRS drew. We will then to gas at the very first philanthropist was the Titan Prometheus. According to this story, brought fire from the gods to people on earth who needed at for their sustenance. Essentially, and if you look at that, the greek word from which philanthropy is derived, it means love of humanity and there's a dead whence between philanthropy and charity and the best way. I can think of to explain that difference as that charity is about treating the symptoms. You give money for things that you can actually see like all those people are poor. Let's give them money while philanthropy is about treating the causes like. Oh those people are poor. Let's figure out why

and, let's fix that, I think people mistakenly used the words and her changeable. A charity and philanthropy and member of the board of directors of the putative trusts Rebecca rhyme. All explains that philanthropy is actually a gift of transfer Asian and whereas in the past, a lot of chair he was based on christian ideals of obligation of arms, giving, for instance, if giving food and money to the members of society who need it, the concept of giving back to the society that has nurtured. You has really involved throughout the centuries, and we see a beginning of evolution right around the sixteenth three in England when charity it become very different, and this was due in part to a couple of factor for one England had separated from the church of Rome. There is what's going on with a tutor throne and the middle class was getting. Larger. So the idea

A feudal society, for instance. The working was a little out of the question. The idea of a lorry taken care of his serfs, because there are too many certain on there a little bit wealthier. They had their trades or making your own livings. And so the authority is to be decided that people giving out money did really know what they were doing. They were actually making things worse because they had no perspective of the larger social issues at work and the funds they were giving often misappropriated so you know one. We had two different types of legislation: the poor relief act, which parliament gave our two city officials to deal with poverty, relief measures through and then the statute, of charitable uses, which essentially regulated funds from private donors under the supervision of the Lord Chancellor. You see the beginning of charity becoming philanthropy being governed, I some sort of central, authoritative body and doling out.

I've just putting money down the drain. There was actual oversight and from questioning about what the causes all this was precisely in the twentieth century, the desert, scholars say. Modern philanthropy really began and we owe this huge glut of and ass. The sun and the United States, at least to the end draw revolution and some men who made the most of the different types of trade that were going on and that's where we get the term of robber Baron. Although some people say that's unfair and they should actually be called- captains of industry or industrial statesmen, Ayn Rand. Actually a huge fan of the Robber barons and call them the greatest humanitarians of mankind and also made the point that before any one can rob, there has to be something to rob,

That's interesting, because one of the robber barons, own descendants, said that she was tired of hearing Andrew Carnegie talked about like a Santa Claus, a great benevolent giver. She said talk about the real stuff, so I think there's two sides to them: forbearance and most strange would agree that, while they were very green man who often manipulated? Not only their workers and the system, but government as well to make their billions. It gave a lot of the term robber barons actually comes from Medieval Europe and Robber barons are what they called warlords who preyed on the people passing through their territories and my Joseph Santa historian, resurrected the term praise nineteen thirty four book about these gilded age. Business man where he painted them is ruthless. Greedy people who bribed the government were bad to their workers and basically made money off the sweat of honest men's backs and jump on White Joseph's and pointed out

J Bradford Delong, who wrote about robber. Baron economics explains that and now hundred some occur, We historians think that direct court here this air of national wealth held by the richest one percent of households peaked at forty five percent, but while to think that that tiny percentage of people could hold that much of the national off and the longer onto a tribute the billion billions to three different factors, the first being there in here tons and how well they did off the stock market, the second being favours from the government and the third, what he calls being in the right place at the right time, and essentially this is making businesses that added to the country's infrastructure and function as well as holding him in boy, not particular business, an example of which would be Carnegie getting steel right before the big railroad boom before structures like the Brooklyn Bridge, went out

You know if you know a monopoly on the type of product, and you can control everything that you're gonna make billions but he bought it all out before anyone wanted it He had all the supply before there is ever it and you could say that having that kind of foresight. Well, that's genius. He deserved a share of that money that he had, but then we get back into this very day question that still relevant day, and that is our society. While these members obligated to give their money back to society and more in our venture, a couple of different answers here. When we go on discuss whether or not the robber barons were in fact, histories greatest philanthropists in case. You don't know who the robber barons are we're gonna, throw some names. You ve probably heard John Jacob Astor Andrew Carnegie Henry Flag. Learn Edward Henry Harriman Jaunty Rockefeller Leland, Stanford, Cornelius Vanderbilt, and if these laws,

You sound familiar. You can probably think of different schools and libraries and structures and public facilities that share their last names. That's not coincidental one of the ways that these men dealt with the guilt of amassing such great wealth, was giving a doctor society and injured worthy actually said. The man who dies rich dies disgraced, later on. He gave a very telling an amendment to that sort of. The nation by saying that the wealthy high get back to society. The society that them to master wealth quote and besides it provides a refuge from self questioning and kind, is actually a fascinating case study of the robber barons. He reckoned with his billionaire status, by spreading is money around any born into a scottish family that phone poverty as a result of industrial revolution, technology supplanting unskilled laborers his mother,

incredibly ashamed of the poverty than that the family and she was a driving force all throughout Andrew Carnegie life. She wanted nothing more than to appear in the town in Scotland that they were forced to leave riding in Cairo and being very grand. He would later gaunt fulfil that of his mother's, so the Carnegie family came to the United States and eighteen. Forty eight settled and slab town, which was a neighborhood in Pittsburgh Andrew, had a full of jobs when he was starting out beginning in a textile factory, then becoming a telegraph messenger in working on the Pennsylvania, railroad under Thomas Scots, settled in New York became more info didn't this past summer converter that he kept hearing about and its contribution to refining steel and Zactly it could do for the steel industry which was yet to boom. So he got early setting up a plant that acquiring more plants and he became the

incredibly wealthy man based on a philosophy of never fixing things. He would start a project completely over. He would scrap things if they weren't going well. If workers want cooperating, they were out, he didn't like cooperate, the union's it was, you know, one chance or nothing with him and he came off very, but nevertheless because he hired an operating lieutenant name. Henry Clay Frick to do his dirty work and you may remember freaks participation in the homestead scandal, which I wish we had time to get into. But unfortunately we don't but a Carnegie always portrayed that he was a benefactor to these workers, even though he would only give them one day off per year and even though their personal lives meant nothing to hide and he was so ruthless and his business. Yours and wondering illustration of this ruthlessness is in the homogeneity rumour that he started to get still contracts for the railroads he began, putting the news that other steel manufacturers lack how much and eighty and their steel,

and so no one should work with them and no one knew it. Homogeneity really meant and didn't mean anything he was making it up so that the word of corporate speak truth. The start of corporate speak precisely. And from there from his high person and the ivory tower of wealth and business brilliance, he wrote a couple of points one of which advocated for democracy in the workplace and another was the gospel of wealth which profess the wealthy hard to give money for the public good and in nineteen hundred Carnegie became the richest man in the United States when he saw his business for four hundred. Eighty million dollars to J P Morgan and he went on use this money to establish libraries, again down and for world peace, indifferent centres for recreation and industrial towns where he felt these factories. It was sort of his his right off, is really hard line: business practices at the end of

business ventures. He really wanted to reconcile with with Frank with him he'd how to falling out years before and freaks response was Mr Carnegie, on meet him in how where we are both going. I love that line because it paints a vastly different picture Carnegie. Then the man who was allotting money for world peace. It showed this type of telescopic philanthropy to court. Charles Dickens, the idea of thinking bigger than the space you're, an idiot can contribute money to orphans in Africa, which was Dickens example by your children at home, are running around in rags and their dirty and unfed. What good have you really done? Well and turkey's idea. Philanthropy was rather elite is my favorite quote from him. He discusses the duties of a man of wealth. Does he say sees them and he says first- to set an example of modest unostentatious living shunning display extravagance and

doing so to consider all surplus revenues which come to him simply as trust funds which he is called upon to administer and goes to say that he's the trusty for his poor brethren, because he s superior, purer wisdom, experience and ability to administrate for them. So the people aren't smart to do things for themselves that these men of talent and of great wealth should be taking care of the public funds for them and it's very hard to reconcile that with the idea a true philanthropist, because broadest sense of the term setting up some sort of organization to dull, monies for the areas is cited, need it, the most that's what BP, as its solving the root of the problem, instead of just trying to ameliorate by putting a band aid on its giving food, in giving food to a man and set a teaching them how to fish, which would set him up for life, and he thought that

as well. Not the government. He and his fellow robber barons did not believe that the government was capable of doing that. They were about some of the original small government fan. And thought that private citizens should step in where the government was failing, private citizens. How the money that, because the robber barons had most of so, they decided David step up. Actually how magnanimous my personal view robber. Baron is actually John D Rockefeller who came from it thing beginnings according to one I declare rag from Hoover institution. His father actual did cell snake oil. So snake oil salesman actually the real meaning there a bit of a con man? He married another woman, while he was still married to Johns mother Katy was hacking out philanthropy not philandering what he really did she's the american dream he worked from these knots. Auspicious beginnings to become one of the richest man in America and that feeds The idea that you owed

society and which you have raised the money or a part of the money that you for mass to think that he came from nothing and who is able to use the land and use the institutions to create has fortune, but he was a device Baptist all of his life and that really influenced ten and biographers have talked about it, possibly being contradictory that you. Religious and yet such agree, business man, but one Later I was reading was saying that it's not trajectory all it's more of a paradox kind of thing that he could be both things that there was grey area there. Him to be both avaricious and also a good person. He did some good stuff with his money because of him? Hookworm was eradicated in the south. So thanks for that John and he also found the University of Chicago which, even now as one of the best universities in the nation. While it's a circular argument to say that you should be less of a greedy and hardline business man and that you should do

great things with your wealth, because a harder line that you take perhaps the more Can you make perhaps the more good you could do without greater fortune I think, some of them use that as a justification for being as hard line as they were in their businesses as well. The more money I make the more I can get back. So I should try to make as much as possible, and you know that sounds like Carnegie Sanger. Reason for suasion ones, guilt like accorded earlier and just Fine, I'm along with great well sometimes comes great eccentricity and ends, perhaps the logic Some of these men used to deal with their businesses was related to the fact that they were simply alone in their fortunes. Who could they relate to aside from the other man? a very wealthy few people there were an jape here. Pot morgue ended his part to help out

went out the federal government from bankruptcy in eighteen. Ninety five, when their gold reserves had gone way way down and ultimately it was financial turmoil, brought down the age of the Robber barons as J Bradford along when we were discussing earlier explained the depression and new deal era. Legislation made it difficult, and for a while it seemed impossible to be a billion air and the United States. The government was essentially putting a cap on how much money people can make and along came the modern era of technology telecommunication computers, and it seemed inevitable that someone is going to figure out the intricacies of the subject. First, billions and someone did not with bill gates and if you look at the most currently, of billionaires and the United States. I found one on Forbes published in March two thousand nine. Its

on the financial sector and people enter ology, who have made the most bill gates, is number one: have Warren Buffett number two Bloomberg at seventeen and Interesting now is that a big percentage still is comprised of errors and error says there are three welcomes: doesn't from Sand Walton of Walmart on that list and to cope oil errors as well that going back to philanthropy? I think Bill Gates and Warren Buffett are both very involved in full public efforts, very much sounds so we still, we haven't answered this debate, and maybe it's not our place to about how the wealthier obligated to be philanthropic, it seems society certainly expect people to be philanthropic, even if we just turn to Hollywood afar and then stems, and we look at the difference. Movie stars and celebrities, your new and further philanthropy and linen Joey. I think. For instance, I found throb back very much a humanitarian.

Perhaps she has a higher public opinion of her than someone who seems to peddle away his wealth, her wealth or the way Companies now do corporate contributions and people have criticised that more as a way of life Ding or social marketing, as opposed to philanthropic efforts that actually are meant to help right and we could go on and debate What does it say about a woman if she's hurting some sort of philanthropic gala and she wears a five thousand dollar couture gown? What does it say? But it's a personal, at the end of the day. Just like these robber barons, who were some of histories greatest philanthropists in terms of dollars, they doled out it was the decision to give to the causes they believed on Carnegie didn't have to set up an endowment for world peace. Didn't work, I don't know, but leading the cause, they put a billion that the next time you got it Carnegie libraries.

For even more about philanthropy and historical robber barons be sure to check out the website? How stuff works, dot com for more on this and thousands of other topics? Does it how stuff works, dot com and be sure to check out the step he missed in history, glass, blood, unhoused upward, start control panel. Nurse. I wanted to tell you about a new pod cast from my heart radio called the women hosted by rose red. It is fascinating and the dive interview show, where rose talks, to change makers and disruptors, and she finds out what really drives them. So she will ask each of them. What was your first stand and how do you navigate success and failure, and really, what's the cost of fighting for others

These interviews are really personal and their candid em for those there a little bit crass, but they are always really enlightening. You can listen to these your brands and take away lessons that will help you navigate your own life and for your own path. The debut season includes women. Like Valerie Plain. We're CIA agents, who is now running for Congress and whistle blower and pediatrician Doktor Mona Hannah, a teacher who exposed the flint water crisis and became the centre of AIDS, swirling swirling amount of problems and the legendary Buffy Saint Marie Sixty songwriter and activist. I have personal interest in the show, because I adore rose and executive produce it and I think you're really going to enjoy the way that she gets into these conversations, that for

two friends talking and they are an absolute delight so subscribe to the women on the Iheart Radio, app on Apple podcast or wherever you get your podcast, how old bunnies this is Ard Marine. You may know me from Chelsea lately or as Regina Sinclair on insatiable. I want to tell you, but my comedy podcast: will you accept this rose, which is new to the eye heart radio broadcasts network? We re cap every season at the bachelor franchise, including the bachelor, the bachelor at an bachelor in Paradise. We bring in bachelor super fans, including last bass, Nicky Glaser, Debbie, Ryan and more catch. Our first episode on January eighth and listen to will you accept this rose on the Iheart Radio, app apple podcast or wherever you get your broadcasts