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John D. Rockefeller has earned a spot in the hall of shame. He became wealthy because of ruthless and dishonorable business tactics which then hurt the nation. Rockefeller became wealthy because, he lowered his prices way down and forced the Pennsylvania Railroad to lower their prices, and he also ran smaller companies out of business and then took them over for his own. After he took over most of the smaller businesses, he raised his own prices back up in order to bring in a bigger profit. Rockefeller’s robber baron side was reflected by this action because, he went behind people’s backs and turned the other way when it came to business partners.…
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Morgan,Rockefeller and Carnegie were robber barons They were considered cruel and ruthless. Carnegie made his employees work long hours and gave them little pay he even tried to stop unions in his company. Employees pointed out that Rockefeller could have paid his workers a fairer wage and settled for being a half billionaire. Morgan criticized for creating monopolies by making it difficult for any business to compete against his.…
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Carnegie did believe in survival of the fittest and that the rich was more competent and educated than the poor, middle class but, he also believed in aiding the less fortunate in a non-direct way by “ ...bringing to their service his superior wisdom, experience and ability to administer,...”(Doc 4). In controlling multiple industries he provided the less fortunate with jobs and work experience, bettering them in a non-direct way. John D. Rockefeller on the other hand believed in boosting himself using horizontal integration, monopolizing the smaller businesses, expanding his industry further and further. Rockefeller once had monopolized almost 90% of the oil and oil refining businesses. He lowered his prices to attract a customer base slowly eliminating all of his competitors by either buying them out or forcing them out of business, to then jack up his prices once he owned most of the industry. Because of his monopoly in the oil industry he and the railroad tycoon Vanderbilt were in league together giving “discriminating rates” to outside , small business competitors (Doc 7). In 1890 the Sherman Antitrust Act was passed to…
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John D. Rockefeller an oil tycoon and an investment mogul, he invented a new type of fuel for lamps called kerosene, formed an oil company called Rockefeller and Andrews, and his way of making profits was reinvesting the money he made back to the company. Later, Rockefeller formed a company called Standard Oil, the company quickly successful because he was in a good economic conditions and keeping margins high. He bought out all of his competitors, and he would make improvements, more efficient and profitable. He was a philanthropist in his later life. He donated his money into education, medicine, and the arts. In this way, he changed the public’s view big businesses and their leader.…
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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.…
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Andrew Carnegie and John Muir both grew up in Scotland and soon after moved to the United States to seek a better life where resources were more plentiful. Carnegie and Muir both had a similarity for not only business, but invention as well. Carnegie and Muir both clearly had the ability to become successful businessmen and their inventions prompted both of their successes. Both of them always had ranging activities and were raring to learn new things. They both shared similar qualities and were very determined in what they did. Carnegie and Muir had a love and passion for writing. They both wrote short stories, articles, and books. Muir and Carnegie wanted to get their point across. They both became one of the most influential individuals…
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In the 1880’s, American industry grew due to many factors including “the emergence of a talented and often ruthless group of entrepreneurs” (Brinkley 396). According to those in favor of these entrepreneurs, these men worked hard, innovated technology and strategized competitively to transform the American economy; these “Captains of Industry,” such as Andrew Carnegie, Cornelius Vanderbilt, J Pierpoint Morgan and John D. Rockefeller, used their wealth to help their communities and should be honored for their philanthropy. An advocate for these entrepreneurs is John S. Gordon. As a specialist of business and financial history, Gordon claims…
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During America’s Gilded Age, several industrial giants influenced the economic and political destiny of America with their wealth and power. Among these were Andrew Carnegie, immigrant steel tycoon of Pittsburgh and one of the richest Americans ever, and Henry Clay Frick, who built Pittsburgh’s coke industry and created one of the grandest private art collections ever in his New York mansion. These two men had tremendous power and left a permanent legacy on America’s economy.…
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These two well-known capitalists, Carnegie and Rockefeller, were certainly captains of industry. As captains of industry, they believed in stopping the progression of the wealthy class becoming wealthier and the poor classes becoming poorer. This was a problem Henry George talked about in his book Progress and Poverty which explained how to handle the cycle of industrial economy. Henry George’s philosophy, later known as Georgism, states that everybody owns what they create yet nature items are shared, especially land. (Doc A) Being successful industrialists, these captains of industry also had a duty to give back to the unfortunate and assist them in gaining wealth themselves, as well. As Carnegie stated in his Gospel of Wealth, captains of industry must “administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community.” In other words, these men must help the community prosper and both men had done so. (Doc C) Both Carnegie and Rockefeller became philanthropists and donated their money to numerous worthy causes.…
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Andrew Carnegie was both a Robber Baron and a Captain of Industry. Growing up as an immigrant, who started with nothing at all, he became greedy with his money. He was a big business leader who builds up the community but treated his workers poorly. Carnegie created thousands of jobs for people but did not provide his workers with safety equipment and had many of them work in dangerous conditions. He helped out the community in many ways but still treated his workers/people poorly.…
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Andrew Carnegie was truly a self made Millionaire. Through hard work and smart investment Carnegie built one of the largest companies of the time and shaped the history of the United States. Carnegie not only amassed his wealth for his own benefit but used it to help others learn and advance themselves. With the help of Carnegie an estimated 2,800 libraries were opened. He was not only a businessman but a good person on top…
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If you were the richest person in the world what would you do with your money, save the economy from going under or simply just walk away. Well Andrew Carnegie was a man of wealth though he didn’t start out like that; he came from a poor family born in November, 1835, in the attic of the cottage his family lived in, in Dunfermline Scotland. He and his family left that cottage in Scotland to come to America in 1848 where at twelve years old he started to work almost immediately. Andrew Carnegie is a hero because his views on business, he is charitable, and he knew business. Everyone has their own views on how to run a business but Andrew Carnegie will forever be known as someone with great business practices. Carnegie believed in social Darwinism which means the product of natural selection of those persons best suited to existing living conditions and in accord with which a position of laissez-faire (means no government involvement) is advocated (doc.2).…
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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…
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Andrew Carnegie is known as one of the most successful businessmen to exist. He created the Carnegie Steel Industry and was known to give away much of his wealth. For this we consider him a hero.…
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3. As a reporter covering the strike at the Homestead Mill, I would say that Frick and Carnegie are Robber Barons. Although they claim to be Captains of Industry, creating jobs and invigorating the economy, they take and take and take. Carnegie and Frick eliminate all…
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