Andrew Carnegie was an immigrant from Scotland who rose from rags to riches through his hard work in the steel industry. He was an industrious leader who helped in transforming the American economy with his business strategies, which was shown later by his success, and then also demonstrated his philanthropy by donating millions of dollars for the betterment of society. Although it can be argued that he was a robber baron who unjustly pushed himself to the top, Andrew Carnegie was truly a captain of industry, as he positively contributed to the country in many ways.
One piece of evidence representing Carnegie as a captain of industry is the various business tactics he used. Immigrating to America penniless, Carnegie knew how important it was
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By doing this, Carnegie was able to maintain the price of steel low enough for most people to afford, which kept the company’s profits high. Carnegie gained monopoly by two strategies: vertical and horizontal integration. The strategy of vertical integration is where a company buys out its suppliers so that it can manage the supplies it receives and at what cost. For example, Carnegie bought iron mines and coal fields, and railroad lines. By doing this, Carnegie benefitted because it would allow him to manufacture and transport steel at lower rates. Another strategy, horizontal integration, is where a company buys out competing companies. What Carnegie did was he bought out the small steel producing companies so that he could slowly gain control over the whole industry. These strategies together let him not only produce steel at low costs, but also let him keep control of the price of steel. Although it can be argued that monopolies hurt the economy and that Carnegie’s monopoly over the steel industry was not something positive, Carnegie never took advantage of his …show more content…
He believed that it was the duty of the wealthy to give back to society during their lifetime. In his essay Wealth, Carnegie mentions that a rich man has three choices about how he should spend his money: he could either leave it for his children to inherit when he passes away,or leave a set amount of money to be donated for when after he passes away, or donate much of it during the time he is alive. Carnegie believed that the last choice was the best, as the money would serve the purpose the donor wanted, and the donor would be respected for the rest of his life for it. This is the path he himself took as well. After selling his company, Carnegie Steel, to J.P. Morgan for $480 million dollars, Carnegie donated about 90% of what he received to different societal causes such as world peace, scientific research, and public libraries. Although some might say that Carnegie donated his money because he felt guilty for the way he had obtained it, the opposite is true, as Carnegie himself stated that “ a man who dies rich, dies disgraced”, meaning that he believed that a man who did not do his duty and benefit his society was not worthy of mention.
In conclusion, Carnegie was not a robber baron; he was a captain of industry. His business tactics, successful monopoly on steel, and philanthropy demonstrate this as well. Although it can be argued that Carnegie’s monopoly
The context of Andrew Carnegie is the robber baron. Industrialisation the expansion of factories and the mass production of manufactured goods like steel. The Industrial Revolution of the early 1900s set the foundation for the rise of Carnegie steel. While some say Andrew Carnegie is a caption of industry because he wanted to help others who were poor evidence suggests he is a robber baron because he made the vertical monopoly which makes it harder to compete with him and he had very poor working conditions and even killed some people with those horrible conditions. Andrew Carnegie made it hard for anyone else to produce steel and other various items so he could eliminate his competition which he pretty much did.
He donated his money to education, and charities. At his death, His remaining $30 million was granted to some foundations and to prisoners. Do you believe he is a Robber Baron or Captain of Industry? Carnegie made a large sum of money, and he gave his money away in many ways to many organizations such as schools, universities, and many other places. So, I believe he is a Captain of industry.
Andrew Carnegie was born in 1835 in Dunfermline, Scotland, but immigrated to the United States in 1848 with his parents. Carnegie became wealthy through his venture in steel with his company Carnegie Steel Corporation. He sold the company in 1901 for $480 million to JP Morgan and decided to focus on his philanthropic work. Carnegie developed an ideology called the “Gospel of Wealth”, in which he stated that “those who accumulated money had an obligation to use it to promote the advancement of society”. Carnegie became famous for practicing what he preached, as he would fund public libraries and gave money to charities.
1) Andrew Carnegie used vertical integration, controlling every step in the process of manufacturing a product, dominating the market. Vertical integration is when the company owns all means of distribution from beginning to end, this makes supplies more reliable and improved efficiency. It controlled the quality of the product at all stages of production. Horizontal integration was used by John D. Rockefeller and is an act of joining or consolidating with one’s competitors to create a monopoly. In Ohio in 1870 he organized the Standard Oil Company.
For instance, John D. Rockefeller pursued numerous of strategies, to try to eliminate his competitors. From horizontal integration, in which he tried to buy or force his competitors out, to vertical integration, which Andrew Carnegie also practiced, meaning they eventually owned everything they needed to produce. J. Pierpont Morgan had a different strategy in an attempt to monopolize his company, he would help merge competing corporations by purchasing massive amounts of stocks and selling them at a profit. These strategies helped capitalize the entrepreneurs control in the growing
Andrew Carnegie was born outside of the country but moved early. At an early age he learned a very valuable skill for work. He worked for a Tom scott in his railroad business. Carnegie did his best to be friendly to his employees. He sold his business to Morgan and donated money.
What he did was give money to organizations, but not to the community who actually needed it. “The duty of the man of wealth is to set an example of modest living” (Document M). This says that all rich people should try and hide the money they have but, not all do that. Many people, like Carnegie, who are rich will flaunt it and not care what others say. That is not being moral or having integrity.
The United States began to enter a prosperous and increasing period after the civil war known as industrialization. Despite the fact that industrialization led the United States to wealth, it also led it to many social and economic problems during the late 19th and early 20th centuries. During this time, Upton Sinclair and Andrew Carnegie were the people who responded to the economic and social problems generated by industrialization. Andrew Carnegie was one of the wealthy men in America and was very charitable, he impacted the United States with his steel to transform cities. During these economic and social problems generated by industrialization, he responded by providing money to fund charities.
Carnegie is not a hero because he took money, only gave to other wealthy recipients, and contributed largely to his own. Andrew Carnegie took money away from deserving people. Carnegie cut the wages of his workers to donate money elsewhere. In document D, there are two images of Carnegie, one is giving a wage cut notice to the workers and the other is giving a check to Scotland and donating a library to Pittsburg. Carnegie’s employees were working hard and trying to survive in a tough economy, their wages did not deserve a cut.
He believed that if the wealthy don't give back some of their profits to the community, they are living a dishonorable life, and although I didn't necessarily agree with this radical viewpoint at first, I now am a firm believer in Carnegie's argument about wealth.
The captains of industry believed that the poor people were inferior to the rich people. The rich were superior because they had “wisdom, experience, and the ability to administer”. The duty of a rich person was to help out a poor person which was what was said in the Gospel of Wealth. The Gospel of Wealth is about how the rich person's responsibility is philanthropy. Carnegie believes in charity work so he would donate to libraries, and universities and schools and etc.
Andrew Carnegie was a “robber baron” as shown in the way he acted towards the people who helped him reach the top and the terrible working environment that he subjected his workers to. He did various things in an attempt at overshadowing the awful things he did and positively alter his public image. His mentor, Thomas Scott, taught him the skills he would use to become the undisputed king of steel. Costs were the most important aspect of any business and reducing those required cutting wages, demanding 13 hour days and utilizing spies as a way to thwart possible strikes. Many years after Carnegie had gone out on his own, Scott met with him thinking that the years they spent together and all he had taught him would unquestionably result in help in his time of trouble.
Carnegie was considered a Robber Baron for many reasons. For example, he gained huge profits because of his workers low wages. In the excerpt, “Who was Andrew Carnegie,” the author said, “his steel workers were often pushed to long hours and low wages.” Workers worked in harsh conditions and received no benefits causing them to live in poverty with scarce food, clothing, and shelter. Workers were tired of the low wages and decided to go on strike.
Andrew Carnegie was a major capitalist of the 19th century. He became a major capitalist in the steel industry. He attained much of his wealth because he practically created the steel industry. Starting from the bottom and working is way to the top Andrew Carnegie became one of the richest men during his time. Starting at earning a dollar and twenty cents a week.
Andrew Carnegie was one of the most famous and wealthiest American industrialist during the Industrial Age. He was a robber baron who made a fortune in the steel industry and applied vertical integration to his business. Carnegie contradicted his views as a robber baron because he supported, but destroyed many unions. This made many of his views unethical.