"Robber baron" is a derogatory term of social criticism originally applied to certain wealthy and powerful 19th-century American businessmen. The term appeared as early as the August 1870 issue of The Atlantic Monthly magazine. By the late 1800s, the term was typically applied to businessmen who used exploitative practices to amass their wealth. These practices included exerting control over natural resources, influencing high levels of government, paying subsistence wages, squashing competition by acquiring their competitors to create monopolies and raise prices, and schemes to sell stock at inflated prices to unsuspecting investors. The term combines the sense of criminal and illegitimate aristocracy.
The culture of Mongolia prizes horses due to their importance to the livelihood of the people who live there, since horses have been essential there for ages.
