During the Industrial Revolution many business leaders were very successful. American people at the time were controversial as to if these Big Businessmen were robber barons or captains of industry. This dispute even continues into present time. Business men should be considered captains of industry. A captain of industry is defined as “a business leader whose means of amassing personal fortune contributes positively to the country in some way.” Furthermore, a business leader who increased productivity, expanded markets, provided more jobs, or showed acts of philanthropy were considered captains of industry.
These men are Captains of Industry because they donated millions of dollars to schools, museums, and clinics. John Rockefeller donated 100s of millions of dollars to schools and research. Rockefeller donated 75 million dollars in total to Chicago throughout a span of a few years (reading). Rockefeller gifted 50 million dollars to the Rockefeller Institute for Medical Research(reading). In 1919 Rockefeller 50 million dollars to the board to raise academic salaries(reading).
Andrew Carnegie also spent his time as an influential philanthropist and donated money towards building educational facilities such as colleges and libraries. Carnegie was the most influential person to American society because he helped build the rapidly growing steel industry, and he donated large amounts of his money towards
National Youth Administration The National Youth Administration (NYA) was a New Deal agency sponsored by President Franklin D. Roosevelt in the United States that focused on providing work and education for Americans between the ages of 16 and 25 (Williams, 1937). The NYA was headed by Aubrey Willis Williams and it operated from June 26, 1935 to 1939 as part of the Works Progress Administration (WPA) (Williams, 1937). The NYA operated several programs for out of school youth. By 1938, college youth were paid from six to forty dollars a month for “work study” projects at their school (Williams, 1937). Another 155,000 boys and girls from relief families were paid ten to twenty-five dollars a month for part-time work that included job training (Williams, 1937).
John D. Rockefeller was the founder of the Standard Oil Company and became one of the wealthiest men of his time. His company was the major leader of the oil business in the United States during his reign. Standard Oil company served as a prime example of how companies should function, which helped to guide others to follow in his footsteps. He was a major philanthropist and used his large fortune to fund many philanthropic causes. His donations helped pay for the creations of the University of Chicago, the Rockefeller University, the establishment of Central Philippine University, and many others.
Name of Industrialist: Henry Ford How did he acquire his wealth? He acquire his wealth by being a self-made man, that revolutionize the car industry in the 90’s. How he (or his related industries) treated workers? Ford manage to lowered the cost of manufacturing, while providing a wage correspondent to more than double of the previous average. He is known for the “skilled workers who earn steady wages.” But like most industries of the time, employees had severe health problems cause by the repetitiveness nature of the job and work place conditions.
He also financially rescued the government twice. Morgan loaned the government over $60 million. Morgan also owned 1/6th of U.S. railroads. He donated to bankrupt railroads in order to save them. Andrew Carnegie was the leader
I think that these three men are captains of industry because, they are Philanthropists. One reason is because Eastman donated millions of dollars to a variety of causes, and he opened up a whole new world, movies. Another reason is Rockefeller donated millions of dollars to a variety of causes, and he teamed up with his brother and 2 other men and established the Standard Oil Company. I think Morgan is a Philanthropist because he loaned the federal government more than 60 million dollars. These three men (Eastman, Rockefeller, and Morgan) are Captains of industry because they are
The Father of Modern Philanthropy, Andrew Carnegie, in his article, “Wealth,” describes his views about prosperity and inequality. Carnegie’s views are very much logical considering he was one to come from “rags to riches.” He began by working as a bobbin boy in a cotton mill and soon became a messenger boy in a telegraph office. In addition, Andrew was an enthusiastic reader and expanded his knowledge constantly which led him to become a telegraph operator and later, the superintendent of the Pennsylvania Railroad. Throughout the years, he climbed up the ladder and eventually built the Carnegie Steel Corporation that transformed into the largest steel industrial company in the world. Because of his unfortunate background, Andrew Carnegie grew
The four businessmen are Captains of Industry, they are Captains of Industry because they donated millions of dollars and some donated their personal collections to places. Eastman supported dental clinics for children who could not afford treatment and donated $2.5 million for the dental clinics in Rochester (website). Moreover he cared for children who were poor and didn’t have a lot of money. By supporting dental clinics for children, the children will grow up as the next generation and help others. Even Rockefeller was also a Captain of Industry because he donated $50,000,000 the board to raise academic salaries, he founded the General Education Board in 1903 to establish high schools throughout the South (reading).
While this remains true, the business men of the Gilded Age were captains of industry to an extent. One of the most prominent captains of industry, Carnegie, donated a large sum of money to charity at the end of his life because he believed in the Gospel of Wealth, as he stated in 1889 (Doc C). Carnegie also helped make America more efficient by using vertical integration. According to E. Levasseur, efficiency was
He studied bookkeeping and went to a commercial college. What really made him famous besides his good business skills was when he discovered oil and the use for it. In 1870, John Rockefeller made his own standard oil company and refinery near Cleveland, Ohio. John moved to Cleveland at the age of 14. In 1865, John borrowed money to buy out some of his partners and take control of the refinery, which had become the largest in Cleveland.
Men like Carnegie, Rockefeller and Morgan could be viewed as "Captains of Industry" and "Robber Barons." Some people may see these men as "captains of industry" because they helped move the nation forward with innovation. Andrew Carnegie who was a Scottish American industrialist ended up leading the huge expansion of the American steel industry.He purchased and constructed Carnegie Steel Company which was in Pittsburgh, Pennsylvania.He built a huge bridge across the Mississippi River which was the first time ever a bridge had been constructed out of steel.This sparked the usage of steel for building and construction.John D. Rockefeller led in the oil industry.He was one of the co founders of the Standard Oil Company which had a great influence
Andrew Carnegie used vertical integration in the steel business to great profit. His operation controlled every step of the process from mining the ore, mining the coal, shipping the ore and coal to the foundry, actually making steel from the ores, owning and operating ships and railroads to transport the raw materials and finished goods, etc. What better way to make your business profitable than to arrange for much of the money it spends to be paid to another one of your businesses? Keeps the money in the family, prevents some other company from putting the screws to you by cutting availability or raising prices, and the peripheral businesses (such as railroads and shipping) may be stronger competitors for other business because they have