By far the most profitable businessman during his age, Andrew Carnegie left his mark on industry, and profoundly impacted the expansion of business enterprise in America. Essentially, Carnegie rose from poverty to become one of the most influential, industrial tycoon’s in history by single-handedly building the American steel industry. During his time, Carnegie was known as being a prolific writer, but is most remembered for the entrepreneurial, and philanthropic career he created himself. By initiating numerous opportunities, consistently working hard, and being a fast learner, Carnegie was able to successfully build an empire of wealth not only for himself, but to greatly benefit America’s leading business industry we recognize today.…
Andrew Carnegie believed in applying survival of the fittest to business, while J.P. Morgan established a community of interest among the larger corporations. (M.A.P.A.H.) Although their beliefs were different, the end goal was the same, to essentially battle over the monopoly of steel. In 1890, Carnegie dominated the steel industry, this troubled Morgan, so he bought Carnegie out for $480 million. (M.A.P.A.H.) Morgan gathered together United States Steel, which was an amalgamation of 180 independent businesses. This business, US Steel, was capitalized at $1 billion dollars! Morgan demolished Carnegie’s steel company by owning or regulating 65 iron ore mines [ 1906, Lake Superior ], over 700 steel and iron works, 1,100 miles of railroad…
of the processes Andrew Carnegie was able to decrease the price of steel to be more…
Andrew Carnegie was an ambitious millionaire, who earned his way from rags to riches. How did he do it though? Did he cheat and deceive people, (Robber Baron), or did he earn his riches fairly (Captain of Industry). These are all frequently asked questions, and I hope this summary will give you some answers.…
He created a stronger type of steel that was not only the most effective, but the most efficient as well. Andrew Carnegie also had a strategy of his own. He believed that the only way to become a great businessman was to control monopolies and control the step of the process in materials. Carnegie definitely had a different side to him. He was a cruel businessman to his workers and a very kind philanthropist. He would poorly pay his workers, as well as leave them poorly housed. Carnegie was really never close to his workers and the wages that they had were very low compared to other steel industries. Nevertheless, he believed that "the man who dies rich, dies disgraced and a rich man should use his money for the benefit of others" (Youngs 33.) In Carnegies older years, he devoted himself entirely to his philanthropist's beliefs' after he sold his business. Carnegie built libraries around the world, but focused especially on the United States. He opened up galleries, museums, music halls, and technical schools. He also encouraged research and higher learning to others. Carnegie also established a donation to permanently seek an end to war. His donations totaled about 350 million…
During the time period after the Civil War and nearing the twentieth century, America’s economy was in prime position to be molded – all America needed was someone to come along to mold it. Businesspersons like Cornelius Vanderbilt and entrepreneurs like John D. Rockefeller were prime examples of exactly whom America needed to take charge of the economy at this time; however, there was one man who was not only a self-made steel tycoon and one of the wealthiest 19th century U.S. businessmen, but a humanitarian as well. This charitable captain of industry was none other than Mr. Andrew Carnegie – who transformed himself from a young Scottish immigrant to a corporate leader and philanthropist whose name still echoes prominently throughout American society today. Although plagued by devastating events in his past, Andrew Carnegie was a captain of industry because of his smart investments and, ultimately, a philanthropist because of his selfless acts. Before owning the world’s largest steel corporation, Andrew Carnegie was a mere messenger boy for a telegraph office. It was at the telegraph office where Thomas A. Scott took a liking to Carnegie. After many years of working closely under Scott and moving up the ranks, Carnegie became superintendent of the Pennsylvania Railroad and Scott’s right hand man. Scott later gave Carnegie the task of connecting the East to the West by way of a bridge that crossed the Mississippi. On a hunt for a material that could withstand the rapid waters, Carnegie came across steel – a radically new substance that was more flexible than iron so it could handle the harsh tidewaters of the Mississippi. By the time the bridge was complete, Carnegie knew he had stumbled upon something. This new material could entirely revolutionize the building process. Carnegie may not have known the importance of what he discovered, but steel was about to become the center of Andrew Carnegie’s whole world and…
This quote shows the author’s point that Andrew Carnegie was a wise man used his experiences to better benefit his companies.…
These four men, George Eastman, J.P. Morgan, John Rockefeller, and Andrew Carnegie were all Captains of Industry. They are all considered Captains of Industry because they all donated huge portions of their wealth to society. George Eastman treated his workers with respect and dignity, giving them fair pay, reasonable hours, and the best benefits he could manage, as the writer states. Both the reading and the website show examples of the places he donated to, such as large sums of his money to children's dental clinics, the Eastman school of music, the Tuskegee institute for African American students, and he gave out scholarships and internships to many M.I.T. engineering students. Eastman also signed away $20 million to M.I.T., $2.5 million…
Carnegie was a Scottish immigrant who built his empire from the ground up, as he was not always rich. Through a lot of smart calculated work, Carnegie managed to have a highly profitable company that monopolized the steel production industry which made him one of the richest Americans of his era. He was a firm believer that the wealthy best knew how to use their riches for the public welfare and he wrote the Gospel of Wealth explaining his thoughts. His basic idea was to not die a rich man for he wanted to spend his extra money to better our society and provide the poor with opportunities for advancement.…
Andrew Carnegie’s views on wealth compared to the view of an average coal miner differ. Carnegie is the ultimate “rags to riches” story. As a young boy, Carnegie worked with Thomas A. Scott, his mentor, and through hard work, he became one of the richest men in history. However, money wasn’t everything to him. On the other hand, the average coal miners were in constant danger. They worked with the constant fear that they can be killed by “burning gas” or “crushed by cars.” However, the average coal miner’s pay varied from “$1.25 to $1.25.”…
The Carnegie Steel Company was a successful factory, which employed many hundred of workers. Andrew Carnegie, who was the owner of the company, wanted a large successful business, which he had achieved already, but he was always looking for ways to save and make more money. By 1892, unions had been formed (Gardner p. 70). The Amalgamated Association of Iron and Steel Workers, founded in 1876, it quickly became the largest union with some 24,000 workers (Ciment p. 33). The union prevented Andrew Carnegie from lowering cost and wages.…
Andrew Carnegie got a job at a local cotton factory with his father. His wage was little over a dollar. (Carnegie, 1919) His perseverance to improve his position in the company was one of his many positive attributes that helped…
Andrew Carnegie was a hero because he developed good business strategies that led him to become a successful businessman. His most successful business strategy was his method of vertical integration, which is when one person controls all the steps in the production process. Instead of just owning the steel mills, he also owned the iron ore fields, where the iron used to make the steel came from, along with the boats and railroads used to transport the iron to his steel mills (Doc 5). Carnegie’s process of vertical integration was a business technique that improved future businesses. Also another reason why Carnegie was such a successful businessman was because he was always well informed of his finances, and some would say he was a micromanager. “Carnegie’s watch on costs never let up in his first twenty-five years in the steel business.”(Doc 3). He also was informed of other businesses finances in order to ensure that he had lower prices and more customers than his competition. Over the years…
I believe this because because he used his success to help others. Carnegie was a very wealthy man and knew how to run a business. He is willing to give back to those who work for it. By Carnegie creating more business it's have more jobs to the community. It also brought new technology, and a new way of life. Andrew offered jobs to those who were willing to work, he even offered housing to some of his workers. That helped the workers and their families. I can see where people could find him as a Robber Baron, because he was unfair to the safety of his employees. They had poor working and breathing conditions. They also had to work very hard for very little pay. Carnegie like to give back to the people but he wanted recognition for everything he put his money to. Besides all of these, Carnegie was really just trying to help the economy and the community at the same time. So that is what makes him a Captain of…
American hero Andrew Carnegie owned the biggest steel industry during the gilded age. Andrew Carnegie was a millionaire by the time he is thirteen years old, as he rose from poverty and built his steel industry with great demand for low wages, poor working conditions, and harsh treatment of his workers. Andrew Carnegie was one of the wealthiest men in his lifetime, but gave away all his money several years before his death.…