People who believe that captains of industry are robber barons may say that they didn’t financially benefit the U.S. economy during the Gilded Age. However, they are incorrect. In Document A-1. Source: Andrew Carnegie, Wealth and Its Uses , Carnegie says, “It will be a great mistake for the community to shoot the millionaires, for they are the bees that make the most honey, and contribute most to the hive...” Carnegie means that no one should get rid of the industrialists because they are the most affluent people in the U.S. during that time period and that they contribute the most money to the U.S. economy. Furthermore, he says, “While the law [of competition] may be sometimes hard for the individual, it is best for the race, because it ensures survival of the fittest in every department… the concentration of business in the hands of the few, and the law of competition between these as being not only beneficial, but essential for the future progress of the race.” Carnegie’s promoting the idea of forming trusts, which is when small businesses merge with each other to reduce competition. By doing so, the probability of a company surviving increases, which would cause the company to thrive. Ultimately, a successful trust would h...
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...he directions, it says, “The businessmen of the period felt justified in their actions as the United States became the world’s leading industrial power with the U.S. producing as much as Germany, Britain, and France combined.” This means that the businessmen not only resorted to these tactics for their own financial betterments, but for America’s financial betterments as well.
Captains of industry were businessmen from the Gilded Age like Carnegie, Rockefeller, Morgan, and Vanderbilt. Industrialists financially benefited the U.S. economy by contributing the most money, which was made from their thriving companies. Also, they set an example of charity and a way of life for others to follow and improved the welfare of the community. Furthermore, they resorted to unscrupulous tactic not only to maximize their profits, but for America’s economic benefit as well.
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