Pronunciation: (kär'pit-bag"ur), [key]
1. U.S. Hist.a Northerner who went to the South after the Civil War and became active in Republican politics, esp. so as to profiteer from the unsettled social and political conditions of the area during Reconstruction.
2. any opportunistic or exploitive outsider: Our bus company has served this town for years, but now the new one run by carpetbaggers from the city is stealing our business.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.