Publications
Publications
- January 2019 (Revised February 2020)
- HBS Case Collection
Jay Gould, 'The Most Hated Man in America'
By: Tom Nicholas, John Masko and Matthew G. Preble
Abstract
Railroad magnate Jay Gould, a controversial figure in the history of U.S. capitalism, was a disruptive influence on an industry that had previously relied on formal and informal agreements to move traffic long distances across lines operated by different companies. Gould and his competitors replaced these agreements with consolidation and system-building, a process that led to the rise of government regulation of railroads in the 1880s and to widespread railroad bankruptcies in the 1890s. This case explores the growth of early American railroads, places Gould’s career in context (including his famous attempt to corner the U.S. gold market), and demonstrates the implications of his activities on competitive dynamics in the railroad industry.
Keywords
Railroads; Gould; Vanderbilt; Rail Transportation; History; Consolidation; Governing Rules, Regulations, and Reforms; Competition; Strategy; Rail Industry; United States
Citation
Nicholas, Tom, John Masko, and Matthew G. Preble. "Jay Gould, 'The Most Hated Man in America'." Harvard Business School Case 819-006, January 2019. (Revised February 2020.)