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Andrew Carnegie was not always a man of great wealth, he started from nothing more than hard work and exceptional investing. Moving in 1848, at a young age with his family from Scotland to America to pursue more economic opportunities he never fully completed his education, but this did not stop his from pursuing better and greater things. This nevertheless caused him to strive from rags to riches by working for telegraph and railroad companies and later creating his own steel company, Carnegie Steel, which her eventually sold in 1901 for $230 million, making him one of the riches men in the world. Henceforth, leading him to pursue in
Andrew Carnegie and John D. Rockefeller: Captains of industry, or robber barons? True, Andrew Carnegie and John D Rockefeller may have been the most influential businessmen of the 19th century, but was the way they conducted business proper? To fully answer this question, we must look at the following: First understand how Andrew Carnegie and John D. Rockefeller changed the market of their industries. Second, look at the similarities and differences in how both men achieved dominance.
Over the years Carnegie became tired of being in the steel business, so when J.P Morgan and his partners were interested in Carnegie’s Steel Company, Carnegie found that way would be a great way to get out of that world. Carnegie sold his company to them left them to $480,000,000, that was the second smart move for him. In 1901 Carnegie became the richest man alive, and he knew he had to give it away when he died.
Andrew Carnegie, was a strong-minded man who believed in equal distribution and different forms to manage wealth. One of the methods he suggested was to tax revenues to help out the public. He believed in successors enriching society by paying taxes and death taxes. Carnegie’s view did not surprise me because it was the only form people could not unequally distribute their wealth amongst the public, and the mediocre American economy. Therefore, taxations would lead to many more advances in the American economy and for public purposes.
Speaking of where that money, in document #10 we see a small cartoon post from The Saturday Globe, Utica, New York, July 9, 1892. At the bottom it conveys, “Forty Millionaire Carnegie in his Great Double Role” With this message, it displays Carnegie both giving away a Library to Pittsburgh and money to Scotland, and cutting wages from workers. This drawing signifies what he does with the money rather than paying his workers with that money. Looking at wages in document #7 helps to see how much a worker are paid in a chart, even though iron and steel workers look like they have decent wages(daily hrs. 10.67, daily wages 1.81), it was to many unfair wages. Compare this to Carnegie’s daily “wage” was ninety two grand! Confirming wages are unfair.
Steel Company after a serious, bloody union strike.He saw himself as a hero of working people, yet he crushed their unions. The richest man in the world, he railed against privilege. A generous philanthropist, he slashed the wages of the workers who made him rich. By this time, Carnegie was an established, successful millionaire. He was a great philanthropist, donating over $350 million dollars to public causes, opening libraries, money for teachers, and funds to support peace.
He went to London in 1872, saw the new Bessemer method of producing steel, and returned to the United States to build a million-dollar steel plant. Foreign competition was kept out by a high tariff conveniently set by Congress, and by 1880 Carnegie was producing 10,000 tons of steel a month, making $1 1/2 million a year in profit. By 1900 he was making $40 million a year, and that year, at a dinner party, he agreed to sell his steel company to J. P. Morgan. He scribbled the price on a note: $492,000,000.”
Andrew Carnegie was a Scottish American industrialist who led the enormous expansion of the American steel industry in the late 19th century. He built a leadership role as a philanthropist for America and the British Empire. During the last 18 years of his life, he gave away to charities, foundations, and universities about $350 million – almost 90 percent of his fortune. His 1889 article proclaiming "The Gospel of Wealth" called on the rich to use their wealth to improve society, and it stimulated a wave of philanthropy.
Growing up as a young boy in Scotland, Carnegie's family was not very wealthy. They immigrated to America where Carnegie went from working as a bobbin boy, making $1.20 per hour, to making millions of dollars later in his life. Carnegie did not become wealthy by unethical means, as a Robber Baron would. Instead he worked very hard and wise to get to where he was during that time. Andrew Carnegie came from "rags to riches" in his lifetime and it paid off.
Wealth is an article by Andrew Carnegie, a Scottish American, showed his views on their social class during the Gilded Age, the late 19th century, discussing the “rich and poor.” Carnegie in fact was one of the wealthiest men because of his major success in the steel industry.
Andrew Carnegie believes in a system based on principles and responsibility. The system is Individualism and when everyone strives towards the same goals the system is fair and prosperous. Carnegie’s essay is his attempt to show people a way to reach an accommodation between individualism and fairness. This system can only work if everyone knows and participates in his or her responsibilities. I will discuss Carnegie’s thesis, his arguments and the possible results of his goals.
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.
Andrew Carnegie was not only an outstanding industrialist, but also a great philanthropist. In the excerpt from page 105, Carnegie is stating that an end to Individualism would result in a revolution not an evolution because it is changing human nature itself, and there would be no way to know if it would even be a change for the better. This excerpt was one trying to convey a communist utopia; a policy of working for the better of each other, not just for the individual alone.
In the documents titled, William Graham Sumner on Social Darwinism and Andrew Carnegie Explains the Gospel of Wealth, Sumner and Carnegie both analyze their perspective on the idea on “social darwinism.” To begin with, both documents argue differently about wealth, poverty and their consequences. Sumner is a supporter of social darwinism. In the aspects of wealth and poverty he believes that the wealthy are those with more capital and rewards from nature, while the poor are “those who have inherited disease and depraved appetites, or have been brought up in vice and ignorance, or have themselves yielded to vice, extravagance, idleness, and imprudence” (Sumner, 36). The consequences of Sumner’s views on wealth and poverty is that they both contribute to the idea of inequality and how it is not likely for the poor to be of equal status with the wealthy. Furthermore, Carnegie views wealth and poverty as a reciprocative relation. He does not necessarily state that the wealthy and poor are equal, but he believes that the wealthy are the ones who “should use their wisdom, experiences, and wealth as stewards for the poor” (textbook, 489). Ultimately, the consequences of
Andrew Carnegie was an Entrepreneur and a Philanthropist. He was born in Dunfermline, Scotland in the United Kingdom. He was born on November 25, 1835. He passed away on August 11, 1919 at the age of 84 in Lenox, Massachusetts. Andrew had little or no formal education, but he grew up in a family that had beliefs in knowing the importance of books and learning. His father was handloom weaver by trade. Andrew Carnegie was best known for being a self-made steel tycoon and he was one of the wealthiest 19th century Unites States businessmen. He donated a great deal of his money to help the expansion of the New York Public Library.
Carnegie saw how bad the wooden railroads were, so he proceeded to slowly replace them with iron ones. Carnegie's charm, perception, and hard work led to becoming one of the world's most famous men of the time, and led to the first corporation in the world with a market capitalization in excess of one billion when he sold his companies to John Morgan who called them United States Steel Corporation.