The term “captains of industry” is often used to describe big business leaders who have had a positive and lasting impact on their industries and society as a whole. This was often the case in the American Age of Industry, as many businessmen were able to help drive technological and economic progress forward through innovation and leadership. Such figures include Andrew Carnegie, Cornelius Vanderbilt, John D. Rockefeller, J.P Morgan, etc., all of whom helped shape the American economy during this period.

However, not all business leaders during the Age of Industry could be described as captains of industry; some acted more like shrewd businessmen or robber barons than anything else. These individuals often took advantage of lax government regulations to monopolize certain industries for their own gain by driving out competition with unfair practices such as oligopolies or price-fixing schemes. They also exploited workers by refusing to provide them with livable wages or safe working conditions.