The late nineteenth century was a pivotal moment in American history. During this time, the Industrial Revolution transformed the nation, railroads had dissipated all throughout the country, and economic classes began to form, separating the wealthy from the poor. One of the wealthiest men of this generation was Andrew Carnegie, a Scottish immigrant who fled to America to make millions off the railroad, oil and even steel businesses. Carnegie is considered one of the richest men in history, and even with all that wealth he decided to give back to the community. As a matter of fact, Carnegie donated most of his funds to charities, universities and libraries in his last few years.
Name of Industrialist: Andrew Carnegie (Steel Company) How did he acquire his wealth? Carnegie frequently recognized as one of the wealthiest person ever. He made big bucks from oil business. He also led the growth of the American steel company in the late 19th century. How he (or his related industries) treated workers.
John Davison Rockefeller: From Rags to Riches “Don’t be afraid to give up the good to go for the great”, John D. Rockefeller. John D. Rockefeller accomplished more than anyone of his era could. Rockefeller began his life at the bottom, but rose to the top of the social and economic later later in his life. He pioneered the idea of the now illegal monopoly, and the American business model. Although Rockefeller is particularly remembered for his ruthless tactics in his oil monopoly, he contributed an immense fortune to various charity foundations.
The Gilded Age was a time of good and bad economic growth. In America during post civil war times, years 1870 to 1900, the nation was prospering on the surface, but was corrupt underneath; large businesses took control of the economy, changed society, and influenced politics nefariously. By the end of the nineteenth century, monopolies and trusts exercised a significant degree of control over key aspects of the American economy. Carnegie used vertical integration to take over the steel industry. He then set up a mega trust with Rockefeller, who was in the gas and oil industry, JP Morgan, who was a banker, and Vanderbilt, who was high up in the railroad industry.
The state of the country's economy during a presidency is one of the most important characteristics of a president's success, and both Eisenhower and Johnson thought about their country's wealth. Eisenhower's tenure was marked by a booming economy (Ambrose 347), and he had to find a way not only to preserve it but to benefit from it. During his presidency, the federal spending as a share of GDP decreased by two percent (“Dwight D. Eisenhower: Domestic Affairs”), but still domestic spending increased despite all his attempts not to let that happen by blocking expensive programs (Ambrose 479). Though income and real purchasing power of Americans increased, many people still lived below the poverty line (“Dwight D. Eisenhower: Domestic Affairs”). Mostly they were
The Philanthropy of Andrew Carnegie Made Him a Hero “Surplus wealth is a sacred trust which its possessor is bound to administer in his lifetime for the good of the community.” Andrew Carnegie believes that if you are fortunate enough to make a lot of money you should also be smart enough to give it back to your community and peers. Carnegie was a self-made man who was born in an attic of a little cottage in Scotland. When Carnegie was twelve he and his family packed up and moved to Pittsburgh. That is when he got his first job as a bobbin boy in a textile mill. He made about 1.20 per week so he later quit that job and found a new one decoding the dot-dot dash-dash messages in a railroad station.
Andrew Carnegie, the leader of the steel industry in the 19th century, epitomized the concept of greed by yearning for supplementary profits within his company; this greed greatly affected the lives of many, including Carnegie himself. Andrew Carnegie was considered one of the richest men in the 1800s as he was the
At the beginning of the 20th century, the United States was booming with new industrial innovations because of new technologies, and it was becoming one of the leading economies in the world. This economic boom came to a sharp halt as events such as the Great Depression and the Dust Bowl hit, causing millions of Americans to face economic struggles. “The Strenuous Life,” a speech given by Theodore Roosevelt, displays the ideas of American work ethics that led to economic growth in the early 1900s. These ideals of work ethic not only prompted the cause of the Dust Bowl, but were continued on into the lives of the affected farmers as Americans displaced and in poverty from this event continued to participate in migrant work with awful living
Carnegie immigrated at age thirteen from Scotland and worked his way up by developing the telegram system during the civil, there collecting his first million then dominated the steel industry; thereafter prospering his enterprise, which leads him to be the second richest man after Rockefeller. “The American Dream”, envisioned by our Founding Fathers, is a revolutionary idea that any citizen has an equal opportunity to prosper by challenging themselves and through an initiative, and determination. This gives” Wealth” much more of an impact thus, many Americans consider ‘The American Dream” as a standard and praise this idealism. Even if his views seem a bit outdated; it stills heavily impacted lots of Americans from the Gilded Age to modern day. However, for all that prosperity, the gap between rich and poor has always been a huge complication, for over a century, people have tried to fix this inequality.
The Gilded Age The Second Revolution, or the “Gilded Age”, was a period of time between 1865-1896. Coined by Mark Twain, the term “Gilded Age” meant that the era had an extreme worship of wealth and that most people were haughty, shallow, and showed off their affluence just to demonstrate their high social class. Just from that definition, it is evident as to how different social classes were affected. While the First Industrial Revolution changed every single aspect of Americans’ life, the second took those original inventions and innovations and evolved them, some of which were railroads and the expansion of the market. Some men such as Andrew Carnegie and John D. Rockefeller took total control of their respective market and created an enormous
Cornelius Vanderbilt, also famously known as ‘Commodore Vanderbilt’ was one of the richest men in America. He was born on May 27, 1794 on Staten Island, New York. He was brought up in a poor family including a tragic death in his family. At age eleven he dropped out of school and started working on boats which, brought about an interest in the shipping industry. Then at age sixteen he bought his very first ferry with a one hundred dollar loan.
Throughout history, wealth was kept within the family, totally opposite of what we see and expect from most successful business people of today. To bolster the notion that these industrial pioneers were not solely in it for themselves, men like Rockefeller gave millions in charitable donations. Carnegie even wrote a book about how to effectively spread money to the commonwealth as well as teaching the lower classes how to provide for themselves. In fact, Carnegie’s book was given to Bill Gates, a man known for his charitable contributions. As if these Statesmen’s giving nature were not enough, their impact on the world war was extraordinary; without them, America would have been left in the dust.
Kevin ruiz Mr. Plata US History: Period 3 22 October 2017 The philanthropy of andrew carnegie; did it make him a hero “The a who dies rich des disgraced”these were the wise words of a humble man andrew carnegie. Carnegie was born in 1835 in dunfermline, scotland. At age of twelve carnegie and his family set of to seek a better life in the united states; here he changed the course of history. Carnegie was able to build a multi- million dollar industry of steel. At the time united states was running on iron , soon the entire country was built of steel, from railroads, to skyscrapers,and to cars.
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.