I've heard a lot about the 'robber baron' era of the US, where larger than life figures like John D. Rockefeller, Cornelius Vanderbilt etc, self-made men that dominated industry in the US.
Was there anything similar to them in Europe? Or was it the old aristocracy that tended to control the economy? Also, could you please suggest any further readings on the subject?
The term Robber Baron actually originated in Europe. Between 800 and 1800 the Holy Roman Empire authorized people to collect tolls from trade along the Rhine River. "Robber Barons" were people who held fiefs along the river (or other trade route) and collected tolls that were either 1) above the informal limits in silver or "in kind" goods or 2) unauthorized to collect tolls. In some cases people built castles for the express purpose of getting a cut of the action.
A good example of the structures employed by both Robber Barons and legitimate toll collectors is Mouse Tower, which is still a tourist attraction to this day.
When the power of the Emperor was weak, most notably during the Interregnum between 1250- 1273, it got much worse. In some cases they were taking whole ships and kidnapping. That led to formation of the Rhine League, which was a coalition of nobles, knights, and bishops who were authorized to collect tolls going along the river and breaking this up by the simple expedient of destroying the castles of Robber Barons, unauthorized toll posts, and hanging anyone who might have been involved. In later times, City Leagues (free associations of Imperial Cities) would follow the same set guidelines to deal with such banditry.
The term was later adopted in the United States to apply to unscrupulous industrialists who got rich without contributing to the greater economy by creating artificial monopolies. Over time the term was applied more and more generally until all self-made wealthy people of the time period were defined as such.
Now, what about the whole did the aristocracy completely dominate industry in Europe? Not entirely. Starting with people like John Lombe and especially folks like Richard Arkwright a class of self-made entrepreneurs in textile factories in England. Much of continental Europe followed in the same general patterns.
That being said, the old aristocracy wasn't the only source of "old money" in the middle ages. There was a lot of money in market towns (the origin of the very term of "bourgeoisie"). So there was a mix of groups investing in European Industry, not just the former aristocracy even if the former aristocracy did have both the money and the political influence to get involved if they so decided.
