I would define men like Rockefeller and Carnegie as “Captains of Industry”. Rockefeller's impact on the American economy demands recognition. He took advantage of the loophole in the Union draft law by purchasing a substitute to avoid military service. In the 19th century. Rockefeller introduced techniques that totally reshaped the oil industry as Kerosene and how can crude oil be converted to it.…
George Eastman and Andrew Carnegie were captains of industry because they were leaders of their industry and philanthropists. George Eastman was a leader of the industry photography and cameras, and made taking pictures much easier. Eastman learned the wet plate method for taking pictures that had been used for many years, which required a lot of equipment. He thought that there had to be an easier way to take pictures. So Eastman studied the method the British were doing which was using a gelatin emulsion on the glass plates that could be used after it dried.…
Andrew Carnegie, John D. Rockefeller and Cornelius are considered to be the three businessmen who generated big business and tremendous wealth. With steel, oil and railroads being the drive force of the Gilded Age, was modern corporation the start to these massive corporations at this time? Janelle, you mentioned that Andrew Carnegie created the growth of the steel industry and he used certain methods to transform the industry. Did other successful business also follow Carnegie's methods or did they use other techniques to stay competitive? After reading the chapter, it is amazing to know that these three powerful businessmen created the foundation to the 2nd industrial revolution of how to run and do business.…
As the years past after the civil war between the Confederates and the Union, the United States prospered as new inventions would be created and help the states become more industrialized. But also it created some of the richest people that would later basically rule the United States with their capability of bribing/buying their representatives and being able to have more money than the government. These people who became the richest person during their own time period were Cornelius Vanderbilt, Andrew Carnegie, John D. Rockefeller, and JP Morgan. The inventors had a huge impact from changing the ways to how everyday life would be and how it would be done. The major components of the second industrial revolution that helped the economical…
Another change was among the wealthy class. Productions in iron and steel rose greatly because of new technologies in factories and western resources such as lumber, gold, and silver. This caused an increase in the demand for transportation improvement. Some mining companies ended up with incredible profits that brought the owners unbelievable amounts of wealth. This created an elite economic class that divulged in expensive foods and possessions.…
They are the most influential and wealthy of all the men of their era, having all the qualities it took to rise in the world that they lived in. These men include Andrew Carnegie, John D. Rockefeller, Jason “Jay” Gould, John P. Morgan, Jay Cooke, and Collis P. Huntington. Andrew Carnegie, a Scotsman who came to Pittsburg, Pennsylvania with his family of weavers, is renowned for his steel business. However, he started his career in a basement, as a bobbin boy. Eventually he worked himself up to the point where he obtained a job as a telegraph clerk working for Thomas Scott, the superintendent of the Pennsylvania Railroad.…
Good or bad, no one could deny Henry’s impact on society. One of Henry’s greatest economic achievements and, at the same time, his worst implementation of a social indignation, occurred over the same event. Ford Motor Company, the pillar of Detroit strength and perceived by many to be invincible, was at one time on the verge of bankruptcy. Henry, in an effort to save the company, applied to several major banks for desperately needed capital to continue operations.…
The powerful Industrialists of the gilded age are often negatively connotated, due to the deceptive behavior and questionable activities that they are known to have partaken in. Four notable men of this standing were John D. Rockefeller, monopolizer of the oil industry, Andrew Carnegie, in the steel industry, J.P. Morgan, a financier and banker, and Cornelius Vanderbilt, who was wealthy and powerful in the railroad industry and built the Transcontinental railroad. Although they were in many ways corrupt, these men were all very powerful and skilled businessmen, as well as being charitable people. They were credited with the transformation of America's Industrial and economic functioning, so it is often debated whether they should be remembered…
Being a smart business leader Carnegie control every part of the industry from raw material to the finished product knocking out the prices in between. Overall by doing so Carnegie set an example to many people in the U.S of becoming rich. With hard work and smart business tactics…
Business and large corporations during the industrial revolution resulted in monopolies controlling the economy. In order to maximize profits, they fiercely sought to control the markets. But the ones who greatly benefitted from the economic explosion were company owners who grew fabulously wealthy. These “robber barons” however, were intent on maintaining their positions of great power and wealth. J. P. Morgan, a wealthy financier, was often involved in schemes designed to eliminate wasteful competition.…
Andrew Carnegie, a self made millionaire stated “the man who dies thus rich dies disgrace” (Carnegie). The inspiration came from his belief that men like him held a great responsibility to contribute their wealth for the good of mankind. In his essay “The Gospel of Wealth” he emphasizes on how millionaires should spread their wealth even by leaving a positive impact in the world. However his main concern is how wealthy man should contribute to society when they’re alive.…
In the late 1800’s, America experienced a new time of advances called the Industrial Revolution. This time period changed the way people worked and lived. Factories lured people off their farms and into cities. Many entrepreneurs emerged from this time period, leaving behind a mixed legacy. John D. Rockefeller had a mixed legacy, like many other entrepreneurs of his time.…
Industrialist Andrew Carnegie’s article “Wealth,” later known as “The Gospel of Wealth,” was published in the North American Review in June of 1889. In his writing, he rejected the traditional goals of charity. He depended less on carefully discriminating between the “worthy” and “unworthy” recipients than on attacking the root causes of unequal distributions of wealth itself. Carnegie believed that wealth should be invested in such worthwhile ventures for the wellbeing of the public being rather than using money senselessly and ineffectively. With regard to Carnegie’s belief, he indicates that the estates of the dead millionaire, or so to say, should be taxed increasingly so that the tax can go towards helping the public.…
Although it is argumentative that some entrepreneurs of the mid-nineteenth century deserved to be crown Captains of Industry or labeled as Robber Barons, John D. Rockefeller should have been honorably regarded as a Captain of Industry due to his account on strengthening the U.S’s economy by investing in blooming American industry and becoming one of the most respected philanthropist. At the same time, his fellow businessman, Cornelius Vanderbilt was suitable of the title Robber Barons for his hated reputation and lack of charitable efforts. Post-Civil War, the United States experienced with economic boom in which business leaders dedicated themselves in ensuring the government to be kept out of their businesses. In fact, the United States’…
The central theme of Carnegie's argument about the Gospel of Wealth is that rich people are superior to all others and should be allowed to use their money to help the less "fit" people. Carnegie believed in Social Darwinism. He believed that the fact that a person was rich showed that he was more fit than others. This meant that the rich man was the one who knew the most about how to prosper in society.…