First of all, he was a major pioneer in the steel industry and created one of the most successful steel companies of all time. Carnegie also played a lead role in recognizing the workers’ right to strike, as long as peaceful action is conducted. In addition to this, Carnegie disapproved of pools made by companies solely in order to raise prices and make more money. Second of all, Carnegie impacted the lives of so many with his work in philanthropy. He funded numerous libraries all across the U.S. and even in Europe, meriting him the title “Patron Saint of Libraries”.
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.
In the past, there have been many influential economic figures in the industrial business industry. Andrew Carnegie is one of the most famous of these figures but not just in a business scheme, but also in an economic and national scheme. Andrew Carnegie is a business man that caused a major controversial issue to arise; the topic of being labeled a Robber Baron or a Captain of Industry by the public. A Robber Baron is someone who has become wealthy through heartless and unethical business actions that will only benefit the individual. On the other hand, a Captain of Industry is a business leader who has become rich by accomplishing activities that will, overall, benefit the people of the community such as expanding a market or providing more jobs.
Carnegie used his own funds to build his first furnace to produce pig iron in 1870, by 1873 he had organized a steel producing company and continued to dominate the industry. Carnegie’s domination of the steel industry in the United States led to him gaining a vast fortune which he had unorthodox views on the way it should be
Allegheny Bessemer Steel had came up with new technology that would actually help the railroads, but Carnegie didn’t like the idea of another company being bigger than his so he sent out a fake letter to the railroad companies (Doc H). Later, the Allegheny Steel Company went out of business giving Carnegie power again. In Doc. G an article published by Harold C. Livesay states that Carnegie was indeed competing with other companies. He asked his friend, Frank Doubleday how much money he was making and then suggested he get out of it because it wasn’t a lot.
Carnegie reduced the wages of working employees in his steel company (document D). But as a business man he needed to do the most conventional thing to win more money. The more money he won the more he gave to the poor. If working employees don’t get enough pay they are considered poor so the employees still benefit for pay and donated things from Carnegie. Plus people that were employees to Carnegie’s industry of steel at least had a job so they can survive longer.
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.
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.
In the year of 1852, the industrious skill and dedication of a young twelve-year-old boy named Andrew Carnegie captivated Thomas A. Scott of the Pennsylvania Railroad. 1 Awed by his diligence, Scott immediately hired and made Carnegie his personal telegrapher.2 With a “rags to riches” background that inspired others to work hard for the American Dream, Carnegie knew exactly how the less fortunate felt when they were compared to the wealthy. Noticing how society achieved social, economic, and political equality before industrialization, Carnegie shared his intake on America’s momentous shift from an agrarian society to an industrial society in the late
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.
At the end of the 19th Century, as the United States was experiencing rapid industrialization, a reconfiguration of the social order yielded opposing visions of social progress. Andrew Carnegie, wealthy businessman, and Jane Addams, founder of Chicago’s Hull House, put forward different methods to achieve such progress, where Addams focuses on creating social capital in a seemingly horizontal manner while Carnegie advocates for a top-down approach. While both of them seem to reap a sense of purpose from their attempts to improve the nation, their approaches vary depending on their vision of the composition of the population they want to uplift. First, Carnegie and Addams’ desire to improve society is partly self-serving. For Carnegie, improving society is the role of the wealthy man who, “animated by Christ’s spirit” (“Wealth”), can administer wealth for the community better than it could have for itself (“Wealth”).
During the late 19th century, there was a growth in industrialization. This brought new opportunities for the poor and the rich. For example, Carnegie helped build the steel industry in Pittsburgh Pennsylvania, which made him one of the richest man in the world. As Carnegie gained more wealth, he questioned who money should be given to. Carnegie was both a Robber Baron and a Captain of Industry.
In not just the steel industry, the factory workers of the age were working to the exclusive benefit of the prime benefactor for the company. Painter writes “Thanks to efficient management and the scope of operations, Carnegie’s industrial empire made more than $40,000,000 in profits per year in the early 1890’s.” and that “When the contract between the amalgamated Association and the Homestead mill expired in June 1892, Carnegie was at his castle in Scotland and offered Frick a free hand.” (111-112) This passage suggests both that the industry was supremely profitable, but that a large part of the profits were going towards the industry’s prime benefactor, Andrew Carnegie.
During the Gilded Age america’s industry economy exploded generating opportunities for individuals but also leaving many farmers and workers struggling. Industrial leaders such as Andrew Carnegie and John D. Rockefeller revolutionized business and ushered in the modern corporate economy, but