How Did Andrew Carnegie Contribute To Wealth
“The man who dies thus rich dies disgraced.” This original quote by Andrew Carnegie speaks volumes all across the United States and its economy. His whole life’s work is being expressed in just a handful of words. The way he lives his life is what makes him a unique wealthy individual. Andrew Carnegie was the first to give new meaning to being wealthy. He was one of the first economists to change the way the economy was run. Born on November 25, 1835, Andrew Carnegie was one of the most wealthiest and famous industrialists of the late 1800s and early 1920s. He is a Scottish-born American industrialist who pushed the economy of the United States into a whole new level. He was the one who expanded America’s economy into what we know it as today. Ever since he was a young boy, he already had ambition burning inside of him. Carnegie worked at a cotton factory before becoming a division superintendent. Throughout the years, he began to invest in companies such as iron and oil. This led Carnegie into the steel business which made him into a powerhouse. Opportunity Andrew Carnegie’s childhood life played a huge role that lead to his success in his later years. Just like any other family looking for opportunity, Andrew and his family immigrated to the Americas in order to escape petrifying poverty. The ship that carried the Carnegie …show more content…
At his current position, Carnegie made profitable investments in various businesses which consisted of coal, oil, and iron. Not only did he invest in these businesses, Carnegie was approached by an idea by Theodore Woodruff. His idea was to develop sleeping cars on railways. Carnegie was then offered a share in the Woodruff Sleeping Car Company. With the help of a bank loan, he was able to accept the proposal that he would not regret. Consequently, Andrew Carnegie began to become a wealthy man due to all his investments in
Andrew Carnegie Dbq
463 Words | 2 PagesAndrew Carnegie was born November 1835, in Dunfermline, Scotland. He grew up poor and lived in a small cottage attic with his family. In 1848 the carnegie family made the hard decision to immigrate to the United States. Carnegie was locally famous for decoding messages when he was a telegraph operator. He later worked himself up to being one of the most famous men in business during the late 1800’s.
How Did Andrew Carnegie Contribute To Capitalism
711 Words | 3 PagesHe used his fortune to donate to charities and became the greatest philanthropist of all time. Despite his humble beginnings, Andrew Carnegie built the largest steel company and became a well known philanthropist. Andrew Carnegie was an American immigrant. Andrew was born on November 25, 1835 in the small town of Donfermline Scotland. (McGill 1).
What Extent Was Andrew Carnegie A Robber Baron Or A Captain Of Industry
455 Words | 2 PagesThe Industrial Revolution was a period of time with major Industrialization in the 1800s. During the period of time when Andrew Carnegie, and John D. Rockefeller who were both Philanthropist, and 2 of the top 5 businessmen that America has ever known. It was probably very hard to work during that time. Some people feel as if Andrew Carnegie and John D. Rockefeller are Robber Barons, and some people feel as if he is a Captain of Industry. I feel as if Andrew Carnegie and John D. Rockefeller both didn’t treat their workers well for multiple reasons.
Similarities Between Carnegie And Morgan
1796 Words | 8 PagesCarnegie 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.
How Did Andrew Carnegie Contribute To The Steel Industry
1389 Words | 6 PagesEven though he couldn’t change much, Carnegie still wanted to do something, he wanted to make a difference to counteract his wrong doings. In 1901 Andrew Carnegie sold his company to J.P. Morgan for 48 million dollars, by the end of it, Morgan shook Carnegie’s hand congratulating him on being the richest man in the world, and he
Andrew Carnegie The Robber Baron Essay
921 Words | 4 PagesHe made the Carnegie Steel Company using the Bessemer process, dropping the steel price, allowing him to buy the rivaling Homestead Steel Works. He used the steel for railroads, making his superintendent job much easier and
Andrew Carnegie Summary
371 Words | 2 PagesAndrew Carnegie was born November 25, 1835, in Dunfermline, Fife, Scotland. He had little formal education and grew up in a family that believed in the importance of books and learning. Carnegie grew up to be one of the wealthiest businessmen in America. http://www.biography.com/people/andrew-carnegie-9238756#synopsis Carnegie started work as a telegrapher and by the 1860s had investments in railroads, railroad sleeping cars, bridges and oil derricks. He accumulated further wealth as a bond salesman raising money for American enterprise in Europe.
What Impact Did Andrew Carnegie Have On The Community
500 Words | 2 PagesAndrew Carnegie was born in Scotland in 1835, and he immigrated to the United States in 1848 settling in Alleghany, Pennsylvania. Carnegie is known for building a steel empire and becoming the richest man in the world. Additionally, Carnegie is renowned for the impact that his philanthropy had on the late 19th century, the 20Th century, and the present day. Through the various foundations affiliated with his name, his impact is felt in the medical field, political arena, and in education (Andrew Carnegie: Pioneer. Visionary.
Henry Ford Accomplishments
1662 Words | 7 PagesCarnegie was born in Scotland where he started working in a cotton factory at 13 years old to get that 1 dollar and 20 cents an hour to his struggling family. Carnegie became financially stable at 30 years old when he started getting involved in both that iron and oil business. As Carnegie experience grew, he developed a system under which he became both the supplier and manufacture od his steel. His helped minimize expense and maximize profits and efficiency of production. US Steel became Andrew Carnegie’s biggest success which helped him amass a financial net worth almost equivalent of Rockefeller’s.
Andrew Carnegie Wealth Essay
849 Words | 4 PagesIn this text, he makes a valid argument about why the rich should administer their own wealth unto those with less fortune. He claims wealth has revolutionized the United States. Carnegie mentions how the Sioux chief's wigwam was similar in appearance when compared to the huts of those inferior to him, and then compares this to the differences in economic classes of the 1800s. Carnegie later states how the very definition of wealth has changed throughout the years, where the poorest farmer of the 1860s owns more luxuries than the landlord of just a few years prior. Carnegie includes these two facts because he not only wants to show how much society has progressed throughout the last few hundred years, but also wants to set up his
Analysis Of Andrew Carnegie's The Gospel Of Wealth
835 Words | 4 PagesIn this text, he makes a valid argument as to why the rich should administer their own wealth unto those with less fortune. He begins his argument by explaining how wealth has revolutionized the United States. Carnegie mentions how the Sioux chief's wigwam was similar in appearance when compared to the huts of those inferior to him, and then compares this to the differences in economic classes of the 1800s. Carnegie later states how the very definition of wealth has changed throughout the years, where the poorest farmer of the 1860s owns more luxuries than the landlord of just a few years prior. Carnegie includes these two facts because he wants to show how much society has progressed throughout the last few hundred years.
What Is Andrew Carnegie Ethical Or Unethical
338 Words | 2 PagesAndrew 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.
Who Is Andrew Carnegie A Captain Of Industry
493 Words | 2 PagesAndrew Carnegie wa a scottish immigrant who came to the United States at age 9. Carnegie was a messenger boy and worked as a bobbin boy in a factory. Andrew also worked as the assistant to Thomas Scott, one of the railroads top officials. He buys a company and builds a sleeping car on a train. Andrew earned most of his fortune in the steel industry.
Why Is Andrew Carnegie Considered Ethical
269 Words | 2 PagesAndrew Carnegie’s views are considered ethical because he gives back to society voluntarily. To help people get on their feet, Carnegie donated millions of dollars to society and hoped that they do something good with the money. Once they’ve gotten to where they need to be, they become stable and hopefully soon, wealthy. With the wealth that the people earned, he believed that they should return the deed and give back to the community.
Andrew Carnegie's Contribution To The Industry: A Captain Of Industry
858 Words | 4 PagesAndrew 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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