Are robber barons essential to capitalism?

Question

Is it a necessary stage for developing economies to go through? Or does greed carry the seeds of economic ruin?

Answer 1

No. It is a requirement of State Capitalism only.

Free Enterprise Capitalism requires freedom of competition and incentive.

All State Capitalist enterprises, such as the Soviet Union, ultimately fail.

Separation of State and Economic generators has always been  proved to be the most successful.

Set up the lemonade stand now. I'll buy from you if the product is good enough...just don't set up a law that requires me to buy from you, or excludes the other kids on the block...

Answer 2

I personally believe it is. Despite how reprehensible their actions can be as they cruelly step on people in order to gain more money and power they also drive economies. Its a sad but necessary cog in the economic machine.

Answer 3

Robber Barons rid the market of inefficient businesses. They help to create competition that in the end favors the end user/consumer. If a Robber Baron doesn't exist in an industry, than you can rest assured that services within that industry are the best they can be.

Case and Point, Budweiser is about to be gobbled up by InBev because Budweiser is a fat, lazy, cat because of its domination of the North American market. Well the InBev Robber Baron is about to fix that problem.

So more power to the Business and/or Individual Robber Barons out there..