...Andrew Carnegie is a captain of industry. A captain of industry was a business leader whose means of a massive personal fortune contributed positively to the country in some way. Andrew carnegie was a business leader when the industrialism decade was going on. His business was in stell. As a child Carnegie was born in scotland in 1835. Around when Carnegie was 12 years old him and his family traveled over to america in an area we call Pittsburgh, Pennsylvania today. Growing up Carnegie worked a lot. He started working at age 12. Carnegie was 15 years old he bought a oil well and started making money in the oil industry. At age 17 Carnegie became a private secretary to the president of the Pennsylvania railroads, soon after that Carnegie turned...
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...Rockefeller and Carnegie In the nineteenth century two of the greatest entrepreneurs were born. These two men, Andrew Carnegie and John D. Rockefeller epitomized the word monopoly, by becoming the biggest industry giants of their time. Carnegie was the leader of the steel industry, while Rockefeller controlled oil. Both of these men were similar; they came from humble beginnings and showed interest in their careers at a young age. On November 25, 1835 William Carnegie had his first child named Andrew in Dunfermline, Scotland. Andrew Carnegie faced poverty most of his young life; this was because of the era called industrialization, which replaced the once successful hand weaver, William Carnegie with a steamed powered loom in 1847. Young Carnegie and his family moved from Scotland to the united states in 1848; they lived in Allegheny, Pennsylvania. Here is where Carnegie’s career in steel began. At the age of eighteen, Carnegie was employed by Thomas Scott, one of the top officials in railroading, as an assistant and telegrapher. Working here gave Carnegie the experience and business savvy he needed to invest in some up-and-coming iron mills and factories; but Carnegie, during his travels, saw the potential of the new steel industry. In 1847 Carnegie opened the first steel furnace. Over the next couple of years Carnegie’s aggressive sale maneuvers; lowering prices of the steel, buying out weak partners, and outselling his competitors, would put Carnegie at the top of the steel industry...
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...Was Andrew Carnegie a Hero? When you think of a hero what comes to your mind? Superman? Batman? What about a person who changed history? Andrew Carnegie was a man who was self-made and one the wealthiest people in the 19th century. When the civil war ended one thing started booming which was the American industry and demands for railroads were increasing. They were faster, able to cross almost any terrain and were possible to operate in severe weather. Railroads were built all around the continent, this was not possible by having the help from Andrew. He developed a strategy where manufacturing steel was easier, faster and more productive. He had all the materials to do so; raw materials, ships, railroads for transporting good from one place to another; even have coal fields to fuel the steel furnaces. He was a hero in many different ways. His experiences, providing jobs, and giving back to the community. He was born on November 25th, 1835, in Dunfermline, Scotland. When he went to school at eight, they crammed 150 students in one room. One of the hardest decisions was made when his family and he moved to the US. He had to work to help support his family. He started working at the age of 12. Can you imagine working that young? Well back then it was common. His family needed $7.25 each week just to make ends meet. His first job was at a local textile mill setting and removing bobbins as they filled it with spun yarn. Over the years he worked his way up from being the young...
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...America was built on industry. But, who were the entrepreneurs that actually brought up this industry? In the early years, there were two terms known widely: a robber baron, and a captain of industry. A robber baron is defined as “an unscrupulous plutocrat, especially an American capitalist who acquired a fortune in the late nineteenth century by ruthless means.” However, a captain of industry is defined as “a business leader whose means of amassing a personal fortune contributed positively to the country in some way.” Andrew Carnegie is a name known widely, and still to this day. But, there are conspiracies: was he a robber baron, or captain of industry? Andrew Carnegie was born on November 25th, 1825 in Dunfermline, UK. He was born into a...
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...for success and growth within the country - this was the Second Industrial Revolution. Andrew Carnegie, John D. Rockefeller, and Alexander Graham Bell revolutionized the United States individually with their self propelled contributions; they represented the epitome of individual prosperity and national growth. Andrew Carnegie’s fortune under current inflation rates would equate to nearly 12 times as much as Bill Gates’ worth. Carnegie was born poor, and moved to the United States as a Scottish immigrant looking for a better future and life. Ultimately, not only did he find a better life, but nearly infinite success during the second revolution. For Carnegie, he founded one of the most expansive and lucrative industries in this time, and even today, a steel company. Humbly, Carnegie started work as a factory worker, however over time, he was able to climb the ranks, eventually earning enough to found the Pittsburgh Steel Company. This company alone, settled Carnegie with a substantial fortune, however given his entrepreneurial mindset, he pushed forward and was able to thrive with philanthropy. Carnegie's influence during this time really shines when he is noted for combining many smaller steel companies, and his own to form U.S. Steel. This company was responsible for the creation of more than the majority of all steel produced during this technological revolution. Consider, Carnegie's steel was not only used in mills, factories and in many appliances and building constructions...
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...men such as Andrew Carnegie, Philip Danforth Armour, Jay Gould, and John D. Rockefeller, all powerful leaders of a new national business community.” Out of Many Volume Two. Edition Four. Page 567 The wealth and power of the United States can be accounted for through some of the bigger names of the late 1800’s and 1900’s. Big businesses came from big names during this time. While the more popular view is to see big businesses as negative, these figures saw business as a chance to grow and took advantage of this and the wealth that came along with it. Andrew Carnegie, known for his roll in dominating the steel industry. Philip Danforth Armour, known for adding to the industrialization of the meat-packing industry. Jay Gould, who was an american railroad finance is one of the less liked wealthy men in the book. John D. Rockefeller is a perfect example of wealth from horizontal integration through gaining the majority of the oil supply. One of the more popular names is Andrew Carnegie. Known as the “captain of industry” and “the richest man in the world,” started from nothing and worked his way up in life. He began his life as a poor immigrant from Scotland and eventually grew from being a messenger, to the secretary for the superintendent of the Pennsylvania Railroad’s. His employment under the superintendent allowed him to learn how business works and eventually step into the roll of superintendent himself. Being smart with his new earned money, Carnegie invested...
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...Captains of Industry? Or Robber Barons? [pic] Overview: The thirty years plus, following the end of the Civil War, is often referred to as the “Gilded Age”. This was a term coined by Mark Twain, the most renowned American writer of the period. It refers to a superficial period of intense economic growth. During this time, businessmen created large business organizations known as trusts. The ingenuity of these entrepreneurs earned the titles of “Captains of Industry”. Yet, their ruthlessness in building wealth at the expense of their competitors, workers and consumers often earned them the title “Robber Baron”. This DBQ (Document Based Questions) asks you to decide whether these businessmen were “Captains of Industry” or “Robber Barons”. Background Essay During the post-Civil War period, an era commonly referred to as the Gilded Age, the economy of the United States grew at a fantastic rate. With the exception of a recession during the mid-1870s, and another during the mid-1890s, the economic growth was in unprecedented in United States history. Manufacturing output increased by 180 percent. Railroads, an important catalyst of growth, increased in miles by 113 percent. Steel production grew to over 10,000,000 tons per year by 1900. Every aspect of the American economy expanded from traditional activities to new enterprises brought about by the huge influx of cutting-edge technological inventions. The gross national product almost doubled during the period and the per...
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...price than it costs to produce. This is what John D. Rockefeller did to gain control over the oil industry. Andrew Carnegie - the leader of the steel industry- and Rockefeller are two examples of robber barons who wanted to make large profits and put other companies out of business for their own power and success. One of the robber barons of the Industrial Age was Andrew Carnegie. Carnegie is known for his use of vertical integration, where he bought out suppliers in order to gain control over materials and systems of transportation. Not only did he buy out his suppliers, but he also bought out competing steel companies. To draw valuable people to his company, Carnegie offered his workers stock in the company. His workers faced...
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...Barons?” How did they work to concentrate wealth and reform capitalism? How could they be called “Robber Barons” by many, and “Captains of Industry,” by a few? In what ways were they both? Throughout history there have been very important men who have had a big impact on our industries. Without these men we would not have some of the greatest industries we have today. Men like Cornelius Vanderbilt, John Rockefeller, J.P. Morgan and Andrew Carnegie. These men were some of the richest men in their times, they each were very successful business men. Cornelius Vanderbilt made his fortune off of steam ships and railroads. John Rockefeller controlled the oil companies. J.P. Morgan was a successful banker and investor whose company J.P. Morgan & co is still around today. Andrew Carnegie took over the steel industry making him one of the richest men in the world when he died. (Zinn Ch 10 & 11) All these men were successful and could be called Captains of Industry but at the same time were also known as Robber Barons. In this essay I will be giving a brief history of each of those men and in what industry he made his fortune. I will also explain how each one had different aspects of their life that made people think of them as Robber Barons. Finally I will talk about how they can be considered to be both Robber Barons and Captains of Industry. The dictionary has two definitions for a Robber Baron. The first is “an American capitalist of the latter part of the 19th century who...
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...The American industrialists changed the faces of American corporations. They aided the United States in becoming economically successful, motivated other businesses to strive more, and provided jobs to lower classes. American industrialists such as Andrew Carnegie, John D. Rockefeller, and J.P. Morgan were more captains of industry rather than robber barons. American industrialists were captains of industry, or industrialists who benefitted society, because they have made the United States more economically successful. For example, during a decline in silver prices, investors were encouraged to trade their silver dollars for gold dollars. The bars of gold stored by the United States Treasury fell to a dangerously low level, and President Grover...
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...Carnegie welcomes changes and adapts to change when others cant or wont. Some of his first jobs that he was good at…was able to do morse code by sound. Carnegie started in the railroad businees, the big business of the cutting edge industry. The telegraph was useful for trains to know when the train is coming through the line in an area. The telegraph was useful in spacing the trains out. To prevent deaths and damaging property. Deals with speed and deals with safety. Connection of steel to the railroad industry in the railroad tracks. On the ethical side, Tedlow views Carnegie as both good and bad. Gives money to build libraries on college campuses. Said you should be disgraced if you die with money in the bank, though he himself died with $40 million in the bank. Signed a telegraph message with his bosses name, an unethical lie but turned out fine and his boss Scott approved of it. Being a leader in a difficult situation and making a good decision. He had told the truth it could have potentially changed his future. Tedlow criticized him for his attitude toward labor and employees. In the 19th centuries there are pitch battles and violence over working conditions in steel mills. They work long hours doing dangerous and dirty work. Carnegie’s attitude toward labor, during Homestead the strike that calls out troops. Henry Frick, no-nonsense guy that doesn’t deal with the union but suppresses it left in charge when Carnegie leaves for Scotland. Doesn’t...
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...interesting parts of the business world both good and bad. Hostile takeovers and buyouts were byproducts of the tension between competing industries and business tycoons, especially in the midst of the Industrial Revolution of early America. Many traits are represented in great business leaders but innovating may be the single best thing to be skilled at. Cornelius Vanderbilt was originally one of the first of many American pioneers and he thrived in setting new trends and finding ways to step ahead of competition. Innovation was his biggest ally in overcoming the rivals in his industry. He originally started with a shipping business that he brought up from nothing and soon used big ships to transport numerous kinds of materials to both the east and west coasts of the country. When the railroad industry was first taking off, Vanderbilt saw a path of profit and potential. The shipping business he owned was one of the greatest companies of its time but Vanderbilt had the eye to see potential into a new type of business that was faster and more efficient. It also created larger profit and more time to make that profit. Vanderbilt became the largest railroad owner in the country and made the right choices in maintaining a competitive edge all throughout his life from then until the end of his days. He continuously adapted to change in the industry and became one of the richest and most influential people in America's history. He knew that the time of shipping by boats was...
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...a change to the American people. Lad by Henry Ford’s assembly line industrial powers such as Carnegie, Huntington, and Rockefeller emerged and built their empires. Birthed from these industrial empires we witnessed the growth of legislation and laws that where susceptible to manipulation by the development of corrupt politics. With the surge in technology, growth of super powers, environmental issues, government legislation, or corrupt business practices or corrupt government the industrial revolution exploded in a time where change was needed to draw the American eye away from the deadly Civil War, which so many where still attached to, and focus on the theoretical idea “a better way of life”. The Industrial Revolution was sold to the American people with the false since that if you work hard you will acquire wealth. This lie to the populace was met with a flood of American and immigrant workers that swarmed to the workforce for low wages and unhealthy work environments. Imbedding this idea into the American workforce the Industrial Revolution spawned business power houses like Carnegie, Huntington, Ford, and Rockefeller. The Industrial Revolution also bestowed on us the corrupt business and political practices that shaped the laws and regulations that are practiced today. The Industrial Revolution saw itself spawn from three industries that led the way railroads, steel, and petroleum. The railroad was perhaps the most predictable development after the Civil War...
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...Scottish-born Andrew Carnegie (1835-1919) was an American industrialist. After immigrating to the United States in 1835, he amassed a fortune in the steel industry making him one of the world’s richest men. His rags-to-riches story epitomizes the immigrant success story. While Carnegie was a firm believer in the importance of philanthropy and the potential of the laboring class, the rise of business and industry created a widening gap between the rich in the poor by the late nineteenth century. This discrepancy of wealth and unjust activity within business and political enterprises became commonly discussed in writings of the day. Over the course of seven weeks in 1904, journalist Upton Sinclair entered Chicago’s meatpacking industry and...
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...As the leader of the steel industry, Carnegie showcased that self-interest and hard work could ultimately lead to success regardless of your social status. It should be noted that Carnegie saw the opportunity that capitalism provided and took full advantage of the system during “The Gilded Age,” a time which saw the creation of monopolies as result of corruption and corporate greed. However, despite the fact that Carnegie accumulated his riches through his capitalistic ventures and individual ambition, he took the initiative to value social welfare. For example, Carnegie wrote, “There remains, then, only one mode of using great fortunes…” (Wealth, quoted in Weber, 48) which showcased his belief that it was the responsibility of the new rich to contribute to the solution of economic inequality by engaging in philanthropic practices. In addition, Carnegie writes, “Individualism will continue, but the millionaire…” (Wealth, quoted in Weber, 49) revealing his ideal that although it is human nature to be individualistic, it is possible for a capitalist society to thrive while simultaneously closing the gap between the rich and the poor through the redistribution of wealth. Rather than simply donating the excess amounts of money to charities, however, Carnegie believed that the surplus would be better off if used for advancements in education,...
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