Andrew Carnegie and the Rise of Big Business
Andrew Carnegie was the pioneering tycoon of the 19th century. From his companies emerged the steel to build the infrastructures such as railroads, bridges, automobiles, and ships that would build a nation in need of direction. He was a major player in the transformation into the Industrial Revolution producing the steel to make machinery and transportation possible. Carnegie built his empire from cost control, low prices, low profits, and high volume to make himself the richest man in the world. In his philanthropic stage of life, he became the world's beneficiary to education, as he is responsible for the construction and donation of thousands of libraries in the U.S., Europe and around the world. Andrew Carnegie is remembered for many accomplishments that include his rise from rags to riches and his influences on the railroad, stock market, and iron and steel industries.
Early Years:
Andrew Carnegie was born into a very poor family from Dunfermline, Scotland. He moved to the United States with his family in 1848. Carnegie received his first job when he was 13 as a bobbin boy in a cotton mill at a mere $1.20 weekly wage. Carnegie’s big break came in 1849, when he was hired at the O’Reilly Telegraph Company. With this job, Carnegie was able to learn many of the important structures of business, which gave him important knowledge of commercial affairs and the new economy. Carnegies second big break arose when Thomas Scott hired him to be the personal telegrapher and secretary. Carnegie gained hands on experience in the railroad when a derailment almost caused heavy stoppage. Carnegie was able to get the railroad moving again which gave him his first chance to be a leader. In 1859, Andrew Carnegie was appointed Superintendent of the Pittsburgh Division at the age of 24. Carnegie was so good at his job that he was able to perfect the system of statistical control even further and introduce new management innovations. From working with the railroad, great qualities were emerging that were to mark his later career. These qualities included, a hard work ethic, ability to master the details of a business very quickly, and act daring and forceful.
New Investment Ventures:
In 1856, Andrew Carnegie was persuaded to buy some stock. He was loaned the money and b...
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.... This turned into a bad call because of the deaths and injuries made by Frick’s view to bring in strikebreakers. If Carnegie would have gone with his normal action of closing down the plants until a new agreement could be made, Homestead never would have taken place. Carnegie wouldn’t have had to regret this decision the rest of his life and the press wouldn’t have criticized him the rest of his life.
In conclusion, Andrew Carnegie is one of the greatest entrepreneurs that have ever lived. He was a Schumpeteran entrepreneur that changed the stream of the allocation of resources over time by introducing new departures into the flow of economic life by creating the modern iron and steel industry. He set a standard that no other industrialists could match. He made million after a million, learning and preparing to make even more money. He loved to make money but was unlike John D. Rockefeller or Cornelius Vanderbilt. Carnegie believed in making the most of his money, so he gave millions of dollars to different institutions and built many structures for people to learn. Andrew Carnegie will always be remembered as long as time passes as a philanthropist, businessman, and a great man.
Andrew Carnegie, the monopolist of the steel industry, was one of the worst of the Robber Barons. Like the others, he was full of contradictions and tried to bring peace to the world, but only caused conflicts and took away the jobs of many factory workers. Carnegie Steel, his company, was a main supplier of steel to the railroad industry.
Shortly after Gould left for Wall Street he made a modest profit by shorting railroad stocks in the panic of 1857.He had made a modest and profitable investment. He then went long in several railroads, shortly after the panic and his timing prooved to be extremely accurate.
Andrew Carnegie was a man who was born poor, but wanted to change many lives for those who were like him. Since he was able to walk, he started to work he was a bobbin boy in Pittsburg. Carnegie would work 12 hours a day to
Cornelius Vanderbilt is most recognized in the United States history for building the New York Central Railroad System and expanding this system to be over 2,400-miles long. From when Vanderbilt was only eleven-years-old, to the day he died, he was working hard, making money, and becoming known as one of the richest persons of, not only his time, but all time. Vanderbilt was also known for his impeccable business skills in the boating and railroad industry, and how he made such a fortune through these two things. Throughout United States history, many people are admired for their hard work and dedication to their businesses and how successful they are in their fielf, but Cornelius Vanderbilt will always be remembered as the most successful, competitive, hard-working, and intelligient businessman in the hisstory of the United States. (Childhood, Life Achievements & Timeline: Who Is Cornelius Vanderbilt? Everything You Need to Know. Page
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.
While Carnegie held the aptitude for greatness regardless of his surroundings, without free enterprise, he would not have even had to option to take a chance or to explore new ideas. In regulated economies, not only is the currency and producer-consumer relationship controlled by the government, many times the media is as well, as not to create a system in which citizens long for something else. In this case Carnegie would not have had the access to the learning resources that he did, and would never have learned how to use a telegraph machine. There would have been no room for lateral growth, and the world as we know it may not exist without Carnegie’s courage and yearning to better himself and the world.
To understand Carnegie before he became a wealthy man, he grew up poor working for $1.20 a week (Document LV). At the age of 50 years, he took a risk by investing in a package delivery company. His gamble paid off and he gained money to start his company, Carnegie’s Steel Company. Eventually, his company grew and caused
Andrew Carnegie and his philanthropy made him a hero because he helped more people than harm in the long run, by this I mean he helped other countries. He also sets a great example to everyone that helping others or someone is not something you need to wait to do when you are no longer living. If someone needed help and even a stable person had the choice to help but until they are no longer alive has little meaning. Perhaps it would be too late when the person isn’t around anymore. Its about what someone can do to help when they are around, it is about what a person can do in the time of need even if it is not much but a little of anything can go a long way. In (Doc C) there is a list of amounts of money that Carnegie has donated to various places which in total he has donated well over $271m but aside from that his corporation is giving out about $100m a year, most of it to education (Doc C)
Carnegie joined Thomas Scott during the civil war and developed a military graphing system. After this he advanced from telegraphy going through railroading and bridge building until he found himself in steelmaking, where he would make his profit. Due to his practical and ambitious ways, Carnegie wanted to dominate the steel industry, leading him to be tyrannical and a dishonest. Carnegie’s talent lied within promoting and selling steel rather than the technical part of steelmaking. Much like Rockefeller, Carnegie was also philanthropic because he gave much of his money away to build libraries, hospitals, parks, etc.
There have been many wealthy men Throughout American history, many have been the topic of many heated debates among them, Andrew Carnegie. Andrew Carnegie at one time was the richest man in the world, who immediately after gaining that title began giving his money away. The impact and size of Carnegie’s philanthropic efforts are undeniable, but why he gave so much has been a topic of debate for nearly a century now. Carnegie’s rags to riches story is the epitome of the American dream and has been an inspiration to many entrepreneurs around the world.
Oates, William C. "The Homestead Strike. I. A Congressional View," North American Review Vol. 155 Issue 430 pp. 355–376
Document D resentfully emphasizes the alleged capacity of the corrupt industrialists. In the picture illustrated, panic-stricken people pay acknowledgment to the lordly tycoons. Correlating to this political cartoon, in 1900, Carnegie was willing to sell his holdings of his company. During the time Morgan was manufacturing steel pipe tubing, Carnegie threatened to ruin him by invading his business if Morgan did not buy Carnegie out. E... ...
Industrialists Andrew Carnegie and Henry Clay Frick could not have come from more different backgrounds. Carnegie was born in the Scottish town of Dunfermline to a very poor family in 1835. When he was 12 years old, his father, a weaver, decided to move the family to the United States in search of better prospects, arriving at what was then the municipality of Allegheny, Pennsylvania, now part of Pittsburgh’s North Side. By that time, Pittsburgh was already known as a major center for the production of steel and other metals. In 1853, at the age of 18, Carnegie was hired as a telegraph operator for the Pennsylvania Railroad, and became a protégé of Thomas A. Scott, who would soon rise
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.
Overall, Steve Jobs was a great inventor. He changed the world with his many technological advances and the opening of his now world-famous company, Apple. He showed great determination, skill, and knowledge throughout all of his undertakings. Steve Jobs will never be forgotten and his inventions still live on today.