Who Are The Five Capitalists Increase Social Inequality?

analytical Essay
597 words
597 words

During the Industrial Revolution, the five ruthless, innovative capitalists Andrew Carnegie, Cornelius Vanderbilt, John D. Rockefeller, J.P. Morgan, and Henry Ford contributed greatly to the growth of wealth and power in the United States (Schoenthaler, 2018a). However, as a consequence of ruthlessly generating immense wealth, the United States became “the most economically stratified nation on earth” (Schoenthaler, 2018a). Although the five capitalists transformed the United States into a wealthy superpower, they also increased social inequality by taking advantage of workers. By utilizing the plentiful natural resources of the United States, the innovations and production of the capitalists’ companies generated immense wealth and power …show more content…

In this essay, the author

  • Explains that the five ruthless, innovative capitalists andrew carnegie, cornelius vanderbilt, john d. rockefeller, j.p. morgan, and henry ford contributed greatly to the growth of wealth and power in the united states.
  • Explains how capitalists' innovations and production generated immense wealth and power for the united states. vanderbilt sold his steamboats to buy up railroads, which generated additional growth to the economy.
  • Analyzes how the powerful capitalists took advantage of their workers and contributed to the increase of social inequality.
  • Analyzes how the five capitalists carnegie, vanderbilt, rockefeller, morgan, and ford negatively and positively impacted the united states and americans.

Under the employment of the powerful capitalists, the workers had long hours and low wages (Schoenthaler, 2018b). Additionally, they worked in poor working conditions and performed mind-numbing work on assembly lines (Schoenthaler, 2018b). These conditions provoked the first of many worker strikes. For instance, one of the first was the Homestead strike against the Carnegie Steel Company ( Staff, 2009). When Andrew Carnegie placed Henry Frick, an unethical man, in charge, the workers endured long hours, low wages, and strenuous work (Schoenthaler, 2018b). As a result, the workers went on strike and demanded shorter hours and higher wages (Schoenthaler, 2018b). In response, Henry Frick hired the Pinkerton guards to forcibly remove the workers from the factory ( Staff, 2009). Consequently, the battle between the guards and workers resulted in death and injuries on both sides ( Staff, 2009). Eventually, the Carnegie Steel Company managed to run the factory again with strikebreakers ( Staff, 2009). As a result of these conditions, the capitalists increased the social inequality gap between those of great wealth and of extreme poverty (Schoenthaler,

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