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The philanthropy of andrew carnegie; did it make him a hero
Railroads american industrialization
Railroads american industrialization
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In the years following the Civil War, the American economy was suffering from extreme disorder. However, during the late 1800s and early 1900s, important leaders of American industry arose, essentially transforming the American financial system from chaos to efficiency. These powerful men shaped America into a world superpower and the country’s economy sparked jealous across the globe. Their contributions to business positively affected not only the United States’ economy, but society as well. Andrew Carnegie, John Davison Rockefeller, and John Pierpont Morgan reflect the mammoth industrial age of America. Although some may argue these industrialists were “robber barons,” these men were, in reality, “captains of industry” utilizing modern business practices and technology which provided both cheap products and job opportunities for the public, as well as becoming large-scale philanthropists and contributing much to American society.
Carnegie became the head of the steel industry by founding the Carnegie steel company in the 1870s. He employed the use of new technology which modernized his business strategies. The use of modern technology such as the Bessemer-process among other inventions led to increased productivity, and, in turn, cheaper goods for the American public. These innovations also led to an efficient mass production of steel for railroads, positively influencing transportation as well as westward expansion. Furthermore, the speed at which the production of steel allowed for the construction of railroads instituted infrastructure necessary for the future. Carnegie’s steel industry was clearly technologically ahead of the competition of his time.
Rockefeller sparked efficiency in the oil industry as he created the...
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...y people today.
Carnegie, Rockefeller, and Morgan were clearly “captains of industry”. Carnegie took advantage of the modern technology available at the time to positively affect the steel industry. Rockefeller spread order throughout the oil industry and led to the development of new products as well as a decrease in the cost of oil. Morgan saved the country from financial disaster on two occasions, as well as brought stability to the nation’s economy. The job market now held various opportunities for immigrants, which constituted the majority of the work force. These great men were also philanthropists, essentially separating them from “robber barons”. All in all, they encouraged the growth of the American economy into one of the strongest in the world.
Works Cited
Hakim, Joy. As History of US: An Age of Extremes. New York: Oxford University Press. Print.
Andrew Carnegie, the monopolist of the steel industry, was one of the worst of the Robber Barons. Like the others, he was full of contradictions and tried to bring peace to the world, but only caused conflicts and took away the jobs of many factory workers. Carnegie Steel, his company, was a main supplier of steel to the railroad industry. Working together, Carnegie and Vanderbilt had created an industrial machine so powerful, that nothing stood in its path. This is much similar to how Microsoft has monopolized the computer software
Despite the negative encounters of Andrew Carnegie’s Steel Company, the exploration and exchange of Carnegie Steel is that the steel was cheap. This had a positive impact on the United States because steel fed national growth, steel meant more jobs, national prestige, and a higher quality of life for
The captain of industries were businessmen who also benefitted society through their accumulation of wealth, using methods such as increased productivity, the expansion of markets, offering up new jobs to the working class, and other acts of generosity. All of the notable industrialists dubbed “robber barons” were also named “captain of industries” as well. Therefore, there have been many debates as to whether the term “robber barons” really did justice to the industrialists, when taking into account of their effects on America’s economy, and not just the negative aspects. While the robber barons did harm specific groups of people in order to meet their selfish goals, as well as execute ruthless tactics to surpass their competitors, they have also created an economic boom in which they created larger manufacturing companies, created many employment opportunities for the working class. Even though robber barons went to extreme measures and harmed others in their pursuit of wealth, they have also, and built a stable and prosperous
The Gilded Age marked a period of industrial growth in America. Mark Twain termed the period of 1865 to 1896 as the “Gilded Age” to {indicate} the widespread corruption lying underneath the glittering surface of the era. Known as either “captains of industry” or “robber barons,” several prominent figures shaped this time period; these capitalists gained great wealth and success with their industries. Corrupt and greedy are two words associated with the term “robber barons,” which referred to the capitalists who acquired their great wealth in less than admirable and ethical ways. On the other hand, many referred to the capitalists as the “captains of industry” that were celebrated as admirable philanthropists; their way of acquiring extreme
John D. Rockefeller and other members of his family produced the fuel that powered America and Europe. In fact, 85% of the world's kerosene supply was produced in a company of Rockefeller's in Pennsylvania. J.P. Morgan, a giant in finance was equally successful by capitalizing small businesses and taking private corporations public. His genius for investing and financing was known world-wide. Because of Morgan and investors like him the American economy grew at a rate that the world had not seen before. His "Gentlemen's Agreement" brought stability to a railroad industry that was unstable because of it's incredible growth. The agreement regulated rates, settled disputes and imposed fines for companies that did not abide by the terms of their contracts. J.P. Morgan helped create a centralized banking system and paved the way for what was to become The Federal Reserve. Henry Ford a corporate giant in transportation built the Ford Motor Company and
Andrew Carnegie in September 1875 production cost was pretty high but his selling price was way higher, in January 1877 he lowered his production cost by a lot and the selling price went down as well but it was still fairly higher than what he was making the steel for,and in November 1977 Carnegie was able to lower his production costs even more as well as his selling price which was a bit more than what he spent making the steel. (Doc D). The main idea of this chart is to show that over the period of September to November Carnegie was able to drop his prices and costs significantly but that doesn't make him heroic. That just means he found new methods, material, or cut the cost of labor, this is just Carnegie being a good businessman. Steel production in the United States was very small compared the Great Britain in 1870, ten years later in 1880 the US’s production launched and was just right under Great Britain, another ten years later in 1890 the US finally passed GB in production but but by very much, ten years after that in 1900 Andrew Carnegie’s mills was making one-third of all the steel in the US making the steel production to skyrocket still in the lead at #1 with Germany and Luxembourg no where near and then in 3rd was Great Britain a little bit close to GL (Doc E). This chart is just to show the production of steel in the United States comparing with other countries over the span of 1870-1900 and to see how Carnegie’s mills effected the US production. This chart does not show Carnegie as a hero just how well his factory productions was going. Overall Andrew Carnegie was very good at being a businessman because he had a lot of financial success with lowering his production costs but that's not very heroic of him, it’s really only doing him good because he's saving
New technology allowed faster and more efficient production, but this explosive growth of industry called for not only more resources, but new business practices and leaders as well. Moritz 10-12. Although not a natural resource, railroads are considered one of the key factors in almost every industry. It allowed companies to quickly send products across the entire nation without using expensive and time-consuming caravans or wagons. Cornelius Vanderbilt was a prominent leader in the railroad industry at this time.
When asked the question, “If you could meet any American of historical significance who would it be?” For me, I chose Henry Ford. Henry Ford is an iconic American who most people think invented the car, but the car had been invented some time before Ford. Although he did design a brand of car, which is still very much popular today, Henry Ford is famous for using the assembly line to produce his cars much faster and much cheaper than his competitors. A middle-class American could now afford an automobile that was dependable and stylish too. Henry Ford was “an automaker, the man who founded the Automobile Age.” (Brinkley 2003, 523)
To understand Carnegie before he became a wealthy man, he grew up poor working for $1.20 a week (Document LV). At the age of 50 years, he took a risk by investing in a package delivery company. His gamble paid off and he gained money to start his company, Carnegie’s Steel Company. Eventually, his company grew and caused
In Harold C. Livesay’s Andrew Carnegie and the rise of Big Business, Andrew Carnegie’s struggles and desires throughout his life are formed into different challenges of being the influential leader of the United States of America. The book also covers the belief of the American Dream in that people can climb up the ladder of society by hard work and the dream of becoming an influential citizen, just as Carnegie did.
"Railroads were the first big business, the first magnet for the great financial markets, and the first industry to develop a large-scale management bureaucracy. The railroads opened the western half of the nation to economic development, connected raw materials to factories and retailers, and in so doing created an interconnected national market. At the same time the railroads were themselves gigantic consumers of iron, steel, lumber, and other capital goods". (Tindall, Shi)
John D. Rockefeller, born on July 8, 1839, has had a huge impact on the course of American history, his reputation spanning from being a ruthless businessperson to a thoughtful philanthropist (Tarbell 41). He came from a family with not much and lived the American dream, rising to success through his own wit and cunning, riding on the backs of none. His legacy is huge, amassing the greatest private wealth of any American in history. Rockefeller’s influence on our country has been both a positive and a negative one, he donated huge sums of money to various public institutions and revolutionized the petroleum industry. Along with all the positives to the country, Rockefeller also had many negative affects as well, including, by gaining his riches by means of a monopoly, often using illegal methods, by giving others a reason to frown upon capitalism, and by hurting smaller businesses.
Even though these men attempted to build a stable foundation for America to grow on, their negative aspects dramatically outweighed the positive. Even though Andrew Carnegie donated his fortunes to charity, he only acquired the money through unjustifiable actions. As these industrialists continued to monopolize companies through illegal actions, plutocracy- government controlled by the wealthy, took control of the Constitution. Sequentially, they used their power to prevent controls by state legislatures. These circumstances effect the way one
...s. These three men read book after book and educated themselves further to reach their goals and dreams even when people never thought it would be possible. Benjamin Franklin did not need to go to college to influence and educate the public with his writings. Henry Ford it made it possible for the average people to go places with their own vehicle. Andrew Carnegie used his success and money to influence others. These three men have shown me the drive, the aggressiveness, the love they had to build their careers. In order to have the American Dream you have to want it and never stop fighting for it.
The industrial revolution began in Europe in the 18th century. The revolution prompted significant changes, such as technological improvements in global trade, which led to a sustained increase in development between the 18th and 19th century. These improvements included mastering the art of harnessing energy from abundant carbon-based natural resources such as coal. The revolution was economically motivated and gave rise to innovations in the manufacturing industry that permanently transformed human life. It altered perceptions of productivity and understandings of mass production which allowed specialization and provided industries with economies of scale. The iron industry in particular became a major source of economic growth for the United States during this period, providing much needed employment, which allowed an abundant population of white people as well as minorities to contribute and benefit from the flourishing economy. Steel production boomed in the U.S. in the mid 1900s. The U.S. became a global economic giant due to the size of its steel industry, taking advantage of earlier innovations such as the steam engine and the locomotive railroad. The U.S. was responsible for 65 percent of steel production worldwide by the end of the 2nd World War (Reutter 1). In Sparrows Point: Making Steel: the Rise and Ruin of American Industrial Might, Mark Reutter reports that “Four out of every five manufacturing items contained steel and 40 percent of all wage earners owed their livelihood directly or indirectly to the industry.” This steel industry was the central employer during this era.