Andrew Carnegie: From Rags to Riches and Industrialization

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Andrew Carnegie is known as the man who was born in the poorest living conditions but died one of the richest men in the world. He was renown for his judgment of character and business opportunities. He is most widely recognized for providing the capital and opportunity for an innovation that would make steel stronger and more affordable. Andrew Carnegie is a major driving force behind the industrialization of American and the impact that he had can still be seen today across Pennsylvania and the World.
Andrew Carnegie was born in 1835 in Dunfermline, Scotland. Throughout the industrial revolution, large organizations had taken over traditionally home run industries such as textiles. Andrew’s father, a weaver, resorted to making and selling …show more content…

Before Carnegie Steel, American railroad companies would pay $170.00 per ton of English steel rail, in part due to high protective tariffs. By 1889, Carnegie Steel had surpassed Great Britain in steel production. Carnegie Steel was producing so much steel that the price American Railroad Companies had to pay for rail was reduced to $30.00 per ton. Most railroad workers of the time were of the opinion that American rails were of a better quality. Mr. Jones did not get to live his dream out for long, he died a few year after he entered the …show more content…

He was seeking to sell Carnegie Steel to John Pierpont Morgan. In 1901, J.P. Morgan jumped at the opportunity to merge the majority of steel plants in America. The largest industrial transaction in the world gave birth to the United States Steel Corporation. It was the first company in the world to have a capital of over a billion dollars. Andrew Carnegie devoted the rest of his life to writing and philanthropy. He believed that he could make the world a better place by donating his money to education. With his extensive fortunes, he built over 2,500 libraries worldwide, a majority of which are in Pennsylvania. He also created cultural centers like Carnegie Hall and museums like the Carnegie Museum of Natural History, which is located in

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