How Did Entrepreneurs Affected By David A. Wells

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Recommended: Andrew Carnegie’s essay, Wealth

Sathya Siddapureddy After the Civil War had ended a new age of industry was brought on to America. Because of natural resources like coal and iron ore, steel was a big product of american factories that helped to grow and expand the economy. Transportation and Technology also contributed to the growth of corporations in America. Ruthless and driven entrepreneurs bought more and more companies creating monopolies over industry like steel, oil, and the railroads. The Entrepreneurs became extraordinarily powerful in not only American economy, but also politics. From the end of the Civil War till the beginning of the twentieth century, large businesses on America and its people. During this time, large corporations and powerful entrepreneurs …show more content…

David A. Wells wrote a piece in which it talked about the workers in factories. When the workers are not taught any skills and are directed to do one job, they are essentially disposable. This make it very unstable for the workers and their families. This method is based off Frederick Winslow Taylor’s idea of Taylorism. It is a way to organize factory work so that unskilled workers can do the easy jobs and be paid the minimum amount. This method creates a huge amount of money for owners and trusts. On the other hand, the workers are facing constant fear of losing their jobs. Because Wells believes in the well being of society, he does not agree with this method of Taylorism. It takes away the pride and purpose in even having a job. While this may help the general economy, it hurts the American working people. While some believe that the entrepreneurs and trusts are over powerful, unfail, and ruthless, there are other who feel they have an opportunity to help the workers. Andrew Carnegie’s book Wealth talks about setting an example my living a modest life. When one has a surplus of revenues, his duty is to help his fellow Americans that are poor. Carnegie, being a wealthy entrepreneurs has enough experience to understand and tell others like him that they must help the poorer communities. Andrew Carnegie led by example by helping build more than 2,800 libraries as well as building and opening a university. George Rice an oil producer and businessman talks about Rockefeller and his Standard Oil ruined him. Rice’s Ohio Oil company was taken down by Standard Oil. By offering cheaper oil, RIce’s company was simply run out of business. Rice, however, was not the only victim. Many other companies had been destroyed by Rockefeller just like this. By doing this the economy’s diversity was torn to shreds. This makes it harder to find oil at competitive prices, hurting the economy. With the

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