Question

which action by a business tycoon in the late 1800s might have earned him the nickname ¨ captain of industry ¨ ?

Answer 1

Answer:        

Giving most of his wealth for developing purposes.

Explanation:

The term, Captain of Industry, use for a business tycoon who spends wealth for developing the country in America during the Industrialization. This development occurs in several ways, including philanthropy, expansion of markets, productivity, and more jobs.

J.P. Morgan played a fundamental role in the American economy as he gained control of industries like railroads. Andrew Carnegie’s steel company and mining and coal. In 1893 Morgan helped in rescuing economy of the country from financial problem. He purchased stock in troubled companies during difficult times in the country. He contributed various donations to a museum,  hospitals, libraries, and schools.