What is meant by the term robber barons?

The term "robber barons" refers to unscrupulous wealthy industrialists and business leaders in the late 19th century United States who amassed significant fortunes through exploitative practices. They often engaged in monopolistic tactics, unfair labor practices, and corruption to eliminate competition and maximize profits. While they contributed to economic growth and industrialization, their actions frequently led to social inequality and public outcry, as they prioritized profit over ethical considerations.