Andrew Carnegie: Road to Wealth and Success
Seen as a robber baron, Andrew Carnegie may have toll advantage of his loyal employees and his relentless competition, his personal intentions and innovations within the steel industry and his philanthropic distribution undeniably changed America’s society and views of education.
In the early nineteenth century, American industrialist were gathering good ideas through Carnegie’s innovations and initiative. When Carnegie started out onto the road to success and wealth, from rags to riches and earned his big reputation that he brought among himself. For the successful people who misused their employees and competition were inevitably labeled as “robber barons,” i.e. John D. Rockefeller. Yet, those personal successes undeniably impacted the world, including the United States, earning the title “captains of industry” Surprisingly Carnegie was able to do both.
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1). He mainly focused on the development of the steel production in Pittsburg to meet the demands. Carnegie was given credit for innovating a faster and cheaper way of producing steel, eventually becoming one of the biggest steel manufacturers of his time. Carnegie eventually sold his steel manufacturer to J.P. Morgan for $480 million the equivalent $13.7 billion in today’s currency (“Andrew Carnegie: Pioneer. Visionary. Inventor. n.d. para. 7}. Shortly after selling his steel manufacturer, Carnegie continued to operate his many other businesses ranging from newspapers to iron ore fields. Carnegie was an avid self-learner, so he decided to give what the common masses needed,
Andrew Carnegie once said, “No man can become rich without himself enriching others” (Crazy Billionaires Speak: Motivational Quotes by Billionaires on Success, Business and Life 9). Many people associate Andrew Carnegie with his contributions to the economic world during his lifetime and future generations. However, he was also an inspiration to all, because he proved that a person living in tough times could ultimately strive and attain his/her utmost success. Additionally, Carnegie is the embodiment of the American Dream, because he is known as one of the greatest industrialists of his time who grew economically from rags to riches. He strived to achieve world peace and inspired others to follow his footsteps.
American businessmen, of the 1800’s, built America to be one of the greatest superpowers in the world. To start, businessmen of the 1800s consisted of men like John D. Rockefeller, Cornelius Vanderbilt and Andrew Carnegie. Some of these men were split by how they got their money; Captains of Industry and Robber Barons. Captains of Industry were business leaders that helped the nation in a positive way. On the other hand, Robber Barons were men that shrewd capitalists, swindled the poor and benefitted for themselves.
Back in the gilded age, late 1800’s, there were big businessmen that changed our economy greatly: but the question is, were they really robber barons or captains of industry? These businessmen were the owners of industries that were very important economic activity in the time period. Though, they were involved in many ethically questionable practices. These practices included child labor, making illegal shortcuts, scams, and deals; plus, they also exploited many of their workers. According to the definitions of each accusation, theses businessmen of the gilded age should be considered as both robber barons and captains of industry, due to the way they have changed the economy, and also how they did so unethically.
Andrew's steel company, Carnegie Steel Company, became the leading and most efficient company in producing steel. Not only did his company make him one of the richest men in the world, but it also helped in the advancement of society. By 1889 his company was the largest steel company in the world. However, shortly after the homestead incident, Carnegie sold his company in January 1901 for 480 million
“I began to stop accumulating and begin the infinitely more serious and difficult task of wise distribution,” as said by Andrew Carnegie. The industrialist and hard-working Andrew Carnegie was a very successful businessman and philanthropist. Andrew Carnegie provided the United States economy to rise due to his steel production in the 1800’s and 1900’s. Although some may think Carnegie was a brutal businessman, Andrew Carnegie enhanced the United States due to his business investments, his philanthropy, and his educational institutions. One way Andrew Carnegie enhanced The United States is his business investments.
Carnegie was super competitive, and he would acquire a competitor's plant in order to gain greater control over the market and increase his production capabilities. Once successful he would take his, “new plant to erect a more modern one” (Blessed Barons), this ultimately led him to put his idea of “forced-air steel” into these plants. Steel became a booming product of the industry thanks to Carnegie. It eventually led him to make the cost of steel go down. In 1875, a cost for a ton of steel was $160; however by 1900 a steel ton was worth $17.
Carnegie began his journey to success as a messenger in a telegraph office. While at work, he met Thomas Scott, a superintendent of the Pennsylvania Railroad Company, and became his telegrapher and private secretary. Scott became Carnegie’s mentor and helped him invest in the railroad business (Edge 37). Later, Carnegie endowed in the steel industry and contributed to the expansion of the American steel industry (Hill). He became the wealthiest American before committing himself to philanthropy and donating more than $350 million to foundations, charities, and universities (Herring).
Gina Zubair American History 1 Period 2 September 10, 2014 Andrew Carnegie, a Captain of Industry Andrew Carnegie was one of the most of the powerful men during the late 1800s, had created a steel industry, founded new technology to produce his product faster, and had built his empire starting from the very bottom. He was an American industrialist who gained a fortune in the steel industry, and afterwards became a philanthropist. As a captain of industry because he has done a great duty to shape our country to what it is now, by creating an empire that has built and urbanized our cities as well as philanthropic deeds. Carnegie had lived from 1835 to 1919 and was born in Dunfermline, Scotland. His parent’s names were Will and Margaret.
He started dedicating most of his time to the steel industry during the next decade. His business changed the way steel was produced and manufactured in the U.S. Carnegie built plants around the country, using different methods and new technology that made producing and manufacturing steel easier and faster. He was the owner of Carnegie Steel Corporation by 1889. It was the largest in the
Carnegie’s True Intentions Andrew Carnegie was an immigrant from Scotland that used the Bessemer’s process to change the steel industry and became one of the richest entrepreneurs during his time. He was crucial during this time because he helped build the steel industry. Steel was stronger and could be used to build taller structures such as skyscrapers. Carnegie’s success was a result of his hard work and dedication. He became an inspiration for others because his romantic story showed that hard work will eventually pay off.
Was Andrew Carnegie a Hero During the late 19th century, Andrew Carnegie made an investment in the steel industry that profited into a fortune, but Carnegie’s earlier life didn’t include wealth. In fact, his family immigrated from Scotland to America in the mid 1800s in search for opportunities. After working tirelessly for many years, Andrew Carnegie became one of the most successful businessmen and philanthropists of all time. Although he accomplished many achievements in the Industry there are underlying reasons indicating that Carnegie was not a hero, such as, his wealth management, inconsiderate work conditions, and hypocrisy.
Grand industrial and economic growth, as well as personal opportunities for monetary success, were never higher than in the Gilded Age. The founding Industrial Fathers such as Andrew Carnegie, Henry Ford, J.P. Morgan, and Cornelius Vanderbilt, to name a few, were the pioneers of the Gilded Age and without them, the United States would not resemble even a fraction of what it does today. Without question, these men were the driving force behind the industrial boom, but the debate rages on as to whether these corporate magnates were sagacious business men seeking to debauch the United States for the procurement of monetary superiority or if they were a benevolent force seeking to bring America to the highest level of economic success ever seen
Meticulously, he combs through how the railroad and steel industries were able to flourish. A lot of Carnegie’s success lay in his recognition of when a risk was warranted, as well as his courage to take that risk. This includes his massive investment in Western Union and Pullman Railroads in 1873. The US was in the middle of a depression, and many people had judged both companies to be on their deathbed.
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.
Andrew Carnegie: The Ultimate Robber Baron Four hundred and seventy-five million dollars. This is the overwhelmingly large amount of money Andrew Carnegie acquired during his lifetime. Though not privileged as a boy, he worked his way up the ladder, achieving more than anyone could have ever imagined. Unfortunately, many people were exploited on his way to the top.