The Gilded Age Essays

1032 Words Mar 23rd, 2016 5 Pages
The Gilded Age was a time period in American history when the economy exploded with railroads and big businesses with the help of: Andrew Carnegie, John D. Rockefeller, and J.P. Morgan. These three were some powerful individuals that helped the economy shoot up. Carnegie helped with steel, Rockefeller with oil, and Morgan with banking. They all were captains of industry in their own way and they all played a big role in revolutionizing the way things currently function. Although some of their methods weren’t great, the effects of their changes helped a ton of people and had many positive outcomes.
Andrew Carnegie was born in Scotland in 1835 and 13 years later he moved to Pennsylvania, and worked at a factory earning only $1.20 a week (Andrew Carnegie Biography, Biography.com Editors, NP). In 1873 he started a steel company which is called Carnegie Steel Company and had developed strategies to make steel more productively and more efficiently, soon Carnegie had plants across the country. Carnegie dominated the industry and became the largest steel company by 1889, and had become an extremely wealthy man. Carnegie was a “captain of industry” by helping the economy steadily grow. He had a strategy that worked very well and it was called “vertical combination” and it works by controlling other companies and distributors to produce steel cheaper and more efficiently and then distributing across the country. Carnegie was intelligent and clever by doing this and it worked really…

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