Andrew Carnegie Approach To Capitalism

Throughout history an abundance of leadership styles and economic systems have been expended. One of these various structures was capitalism. To my understanding, capitalism is defined as an economic system that is based on private ownership of a business or property with the goal of making the greatest possible profits for the owners. As the nation progressed and become more industrialized the economy was essentially ran by large corporations and franchises. During the nineteenth century crime was nothing new. However, the way commercial enterprises treated their workers could surely be said to be a crime. The push for reforming economics is what started to spark changes in the industry. This is where concepts like trustbusting and muckraking …show more content…
As one of the wealthiest men in America, it makes since that he agrees with the views of capitalism. Conquering the steel industry, he believed that manufacturing was incredibly important for society since it generated capital. He is convinced that money is not always the root of evil, if used in the correct way. Money is the determining factor in foreseeing the success of workers in the future. On page five Carnegie gives his thoughts about manufacturing and money stating that, “It must either go forward or fall behind; to stand still is impossible. It is a condition essential to its successful operation that it should be thus far profitable, and even that, in addition to interest on capital, it should make profit”. Moreover, he argues that the objections to this foundation of economics and work is not in order. He preaches that people should have to work hard for their money instead of it just being handed over. On page six he said that. “civilization took its start from the day when the capable, industrious workman said to his incompetent and lazy fellow, if thou dost not sow, thou shalt not reap”. Translating this statement, it means that humanity rest until the day someone said hard work was vital. To continue, throughout his life he’s convinced that it is the responsibility of rich men to spend their money for the greater good and to not be …show more content…
The events in the first half of the book show how capitalism fails. Everyone is tricked into buying a house with high interest, forced to a get a hard-working job with a low salary, and live in inadequate conditions. Jurgis’s family is fully enclosed in its destructive and violent ways. Looking for a better life, they come to the United States with hopes of living the American dream. They are fooled into believing the government’s warm words about capitalism. Yet, when they arrive they describe Chicago to be dirty and smelly. “It is an elemental odor, raw and crude; it is rich, almost rancid, sensual and strong (Sinclair, 28)”. Sinclair’s ideas contrast what Carnegie believes is vital to a successful government, economy, and life. To begin, hard work does not always pay off in the end in this scenario. Hard work is required to achieve your goals and to earn goods and cash. But, the massive trust leading overworked people until they were used up and tired. These companies overstepped their boundaries. The work conditions they were expected to do their duties in were by far unsuitable. These buildings were full of child labor, injuries, sanitary problems, and multiple dangers. “There are able-bodied men here who work from early morning until late at night, in ice-cold cellars with a quarter of an inch of water on the floor- men who never see sunlight- and little children