Andrew Carnegie: Poor Handloom Weaver
Andrew Carnegie, steel tycoon and extraordinaire yet he born as the son of a poor handloom weaver. Had it not been for the free enterprise system he would been unable to gain the opportunities which allowed him to become one of the greatest businessmen in America.
In a free enterprise system, all companies strive have a competitive edge over its competitions be it in a more specialized labor or a innovative product. This was also what allowed Andrew Carnegie to rise to his peak, had it not been for his ability to chose who to work for as a consumer he would've been unable to gain a substantial wage and in turn unable to start his investments or even his company. He was born in the lower rung of the society he lived in, but due to his hard
work he was able to take advantage of the opportunities that life gave him and some he was able to start up his steel company. He was innovative and extremely hard working, two thing that was also presented in his company which allowed it to prevail over his competition. His vertical innovation tactic made his steel the cheapest steel produced of its time and many of his inventions like the sleeper car for the railroad was able to ensure his survival in the business world. He was never hindered by the free enterprise system instead he was a strong support for it as it was what allowed him to become what he was he himself once stated "And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department." Although it can be argued that he himself was able to grow his company in a steel giant of its time only by abusing the free enterprise system by deliberately dealing workers low wage as show by the the Homestead Strike of 1892, however it was common knowledge that he was unaware of the low wages that the workers faced in Homestead, Pittsburgh as the local managers worked deliberately to cover up the massive profits they themselves were gaining.
The free enterprise systems allows anyone to become a major existence in their sector regardless of their starting point in life. As long as they are able to be innovative in their techniques and give their companies a unique edge they can survive in the market.
In a free enterprise system, all companies strive have a competitive edge over its competitions be it in a more specialized labor or a innovative product. This was also what allowed Andrew Carnegie to rise to his peak, had it not been for his ability to chose who to work for as a consumer he would've been unable to gain a substantial wage and in turn unable to start his investments or even his company. He was born in the lower rung of the society he lived in, but due to his hard
work he was able to take advantage of the opportunities that life gave him and some he was able to start up his steel company. He was innovative and extremely hard working, two thing that was also presented in his company which allowed it to prevail over his competition. His vertical innovation tactic made his steel the cheapest steel produced of its time and many of his inventions like the sleeper car for the railroad was able to ensure his survival in the business world. He was never hindered by the free enterprise system instead he was a strong support for it as it was what allowed him to become what he was he himself once stated "And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department." Although it can be argued that he himself was able to grow his company in a steel giant of its time only by abusing the free enterprise system by deliberately dealing workers low wage as show by the the Homestead Strike of 1892, however it was common knowledge that he was unaware of the low wages that the workers faced in Homestead, Pittsburgh as the local managers worked deliberately to cover up the massive profits they themselves were gaining.
The free enterprise systems allows anyone to become a major existence in their sector regardless of their starting point in life. As long as they are able to be innovative in their techniques and give their companies a unique edge they can survive in the market.