Topic: Should Andrew Carnegie be described as a “captain of industry” or a “robber baron”? Abstract: Nowadays, there still exists lots of controversial comments towards Andrew Carnegie. Some of them hold the view that Andrew Carnegie should be described as a captain of industry while others contend that he was only a robber baron. As far as I am concerned, Andrew Carnegie, known as the King of Steel, built the steel industry in the United States, and in the process, became one of the wealthiest men in America. He is a man worthy of being respected.
In a time after the civil war, America improved their financing by switching to the gold standard, improved communication by boosting the telegraph, improved transportation by building railroads, and improved wealth by giving contracts for clothes to multiple companies. The economy was also improving massively also due to natural resources, demography, and law. Railroads allowed people as well as supplies to be transported quicker, safer, and cheaper. Companies bought each other out and formed monopolies which made the price go up and the owners very wealthy. Aside from all of these positives, there are also various problems that took place during the Gilded Age (1865-1900).
Business owners made lots of money from the railroads because they were able to transport goods farther and faster with ease. Although the railroads tremendously impacted businesses and therefore the economy, the native americans were negatively impacted because the railroads were being laid on “their” land. This caused distrust between the settlers and the natives because of the “disrespect” for the land. Because of the new ways of transportation, the industrial revolution took place causing skilled artisans to be replaced by unskilled workers that used large complex machines. The
The United States began to enter a prosperous and increasing period after the civil war known as industrialization. Despite the fact that industrialization led the United States to wealth, it also led it to many social and economic problems during the late 19th and early 20th centuries. During this time, Upton Sinclair and Andrew Carnegie were the people who responded to the economic and social problems generated by industrialization. Andrew Carnegie was one of the wealthy men in America and was very charitable, he impacted the United States with his steel to transform cities. During these economic and social problems generated by industrialization, he responded by providing money to fund charities.
A captain of industry can be defined as ¨a business leader whose means of amassing a personal fortune contributed positively to the country in some way.” Andrew Carnegie was an ideal representation of a captain of industry, he was born poor, yet he rose the ranks and became a successful businessman who dedicated his fortune to good causes. Due to his success and innovation in the steel industry and his benevolent donations, Andrew Carnegie was a prosperous businessman who benefited lives across America. Andrew Carnegie furthered the steel industry and brought forward new innovations that advanced technology and market shares for generations. Not only did Carnegie develop technologies, he helped forge new business models. The concept of vertical integration received an immense
John D. Rockefeller Sr: How did John D. Rockefeller impact the Industrial Revolution John Davison Rockefeller Sr. once stated “If you want to succeed you should strike out on new paths, rather than travel the worn paths of accepted success” (John D. Rockefeller Quotes). John D. Rockefeller was the founder of Standard Oil in which then became one of the wealthiest men in the world. Rockefellers ongoing funding as a philanthropist and trust in oil is how the man's name still lives on to this day (The Rockefeller Archive Center). For thousands of years oil has been a main resource for human consumption, and remains the same. Rockefeller has made an impact on the industrial revolution by changing and monopolizing the oil industry to bigger and better ideas.
Monopolies were intended to increase profits, and “dictate” the “two great classes:” the producer and the consumer (Doc 3). Many companies like Andrew Carnegie’s steel company and Rockefeller’s standard oil company benefitted from trusts. Rockefeller successfully created a monopoly by buying rival companies, and controlling transportation rates which allowed for the transport of goods at a cheaper rate, allowing Rockefeller to lower the price of oil; this affected small companies since it was impossible for them to compete with the price (Doc 5). While many companies invested in the railroad company and created contracts to receive exclusive benefits such as lower rates, the railroads didn’t benefit the public at all, because they were built by investors that only cared about receiving a “fair percentage” of the profit, and remarked that “the public be damned” (Doc 1). Many laborers working under these company suffered due to the reduction of “the price of every labor connected with trade” (Doc 3).
But by what factors the corporation play in our lives and society? In fact, corporation plays in our live and society a huge role, even if there are both benefits and disadvantages. Term corporate responsibility refers to growing number of companies access responsibility of principles and values connected with business operations. By a hilarious number of corporations all over the world, they could give the jobs for an impressive group of people, investing in industries, producing plenty of widely used goods, can achieve a huge success and create wealth, which is well-known as a status of well-being. These aspects can be linked to economic growth which refers to increase in a productive capacity, an
Donald Trump is also a role model in ‘goal setting’ especially in a business context. He has ‘high expectations of himself’ and those around him and that is, at least partially, why he has been able to accomplish so much in his lifetime. All this evince that he is a ‘big dreamer.’ He dreams big. Having a clear vision is essential if you want to accomplish big things. One might argue that Donald Trump is arrogant and could, perhaps, even be described as egoistic person.
Around this time big business men like John Rockefeller put large amounts of money into the temperance movement as they felt it would benefit them as they would have more efficient workers. This may mean that
“Much of the blame heaped on the captains of industry in the late 19th century is unwarranted.” (Document F). The Gilded Age was a time where the U.S. economy grew very quickly and rapidly, due to the inventive minds and entrepreneurs of that time; but it has different perspectives of opinions in history today. This era led the U.S. to its state and place in the present world, thanks to its important contributors, (who are involved in the main debate of whether they were robber barons, unethical men who yearn for money, or captains of industry, leaders who add positive ideas and methods to benefit their country.) The industrial leaders of the Gilded Age are captains of industry, worthy of some gratitude and credit for how our society’s structure