Andrew Carnegie: A Brief Summary
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He also put a profit sharing plan in place to motivate his workers. Carnegie felt his employees would work harder if they had a stake in the company's profits. This belief led Carnegie to distribute company stock to his employees which would rise and fall in value depending on company performance. To ensure the company would perform better, and that their stocks would produce higher returns, Carnegie's workers had to work harder. Both these practices were revolutionary in the business world at the time they were implemented and couldn't have been implemented without free enterprise, thus making free enterprise essential to Carnegie's
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Morgan, Rockefeller, and Carnegie all had their times when they acted like robber barons but the things they did as Captains of Industry over power what they did wrong which shows they did more good than bad. For example Carnegie donated more than $350 million to further public education, and build over 2,500 libraries. He did have times when he had his workers work long hours with little pay but his good, overpowered his bad. Another example was made by Rockefeller, in 1913, The Rockefeller Foundation was officially established and Rockefeller transferred $235,000,000 to it by 1929. He donated his money and proved he was a captain of industry.
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He then worked for the Pennsylvania Railroad and in 7 years worked his way up to make $1,500 a year. He then met Bessemer which showed him the work of steel, which Carnegie adopted. He invested in mills and had the Thomson Steel Works. He then acquired interest in Frick coal fields, coke ovens, ore fields, railroads, and ships. In the end Carnegie sold his business in steel to J. P. Morgan and gave most of his money away in his later years.
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At the end of the 19th Century, as the United States was experiencing rapid industrialization, a reconfiguration of the social order yielded opposing visions of social progress. Andrew Carnegie, wealthy businessman, and Jane Addams, founder of Chicago’s Hull House, put forward different methods to achieve such progress, where Addams focuses on creating social capital in a seemingly horizontal manner while Carnegie advocates for a top-down approach. While both of them seem to reap a sense of purpose from their attempts to improve the nation, their approaches vary depending on their vision of the composition of the population they want to uplift. First, Carnegie and Addams’ desire to improve society is partly self-serving. For Carnegie, improving society is the role of the wealthy man who, “animated by Christ’s spirit” (“Wealth”), can administer wealth for the community better than it could have for itself (“Wealth”).
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This made him one of the wealthiest men on Earth, of his era. At age 12, Andrew Carnegie could not go to school because of his family’s financial problems. He began working for John Scott as a mailboy. Scott saw Carnegie’s potential and took him under his wing.
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He owned the mines for the raw materials, the necessary transportation, such as trains and ships, and even coal mines to power the furnaces. Being in charge of the process is what made him superior to his competition. But all this success was not all on him. People say that he Carnegie got rich on the backs of his workers. The most famous case of this was in Homestead, Pennsylvania, where he lowered wages and the workers went on strike and did not work.
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But that not it he choose to make the bridge out of steel which is very expensive and hard to make in bulk. Later it was a major success. Furthermore, when young Vanderbilt started out his career he sees a possibility in shipping with ships instead of carriages. He makes a very risky move by putting all of his money into boating, not knowing if it would work, or
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The “Gilded Age”, a.k.a the Post Civil War Progressive Era, was the name given by Mark Twain in the period 1865-1896 which indicated the wealth and the widespread corruption of the era. The “Gilded Age” witnessed new cultural and intellectual movements as well as political debates over ecomonic and social policies from five different forgettable presidents. The president of the “Gilded Age” who serves as the best, in my opinion, was Grover Cleveland. Although this is very opinionated, I say this because Cleveland was the first democratic president since Buchanan whom despite political gain, served two inconsecutive terms which shows that he is trustworthy and he is a leader. He appealed to middle class voters of both parties as someone who would fight corruption and big-money interests.
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Fatima Torres Mr.Plata US History: Period # 4 22 October 2017 Title How Andrew Carnegie is a hero Andrew Carnegie born in Scotland 1835. Carnegie grew up poor, at the age of eight he began his schooling in one room school with 150 students.
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He grew up in poverty. His father's name was William Carnegie, William worked as a weaver and was the only source of income for the family. Carnegie’s mother's name was Margaret Morrison. Carnegie’s father died in 1855, after his death Carnegie realized that he would have to take care of the family. Carnegie gotta education and by the age 18 Carnegie was a secretary for Thomas A. Scott, the superintendent of the western division for the Pennsylvania Railroad.
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Someone who is courageous, intelligent and has reached a significant achievement is called a hero. A man named Andrew Carnegie, born in Scotland in 1835, does not fit this definition of hero. Carnegie started off as a poor man who developed into a very successful businessman. He had intelligent business skills, including vertical integration which made him a rich man. However, his success does not define him as a hero.
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There will always be different opinions from the people. The way someone believes is what defines them as a person. An example of this, is Andrew Carnegie’s views. He believes the rich should invest money in order to create a better society. The views of Andrew Carnegie are consider ethical.
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Background Named after his grandfather, Andrew Carnegie was born in the year 1835 in the quaint town of Dunfermline, Scotland. As a young boy, Carnegie immigrated to the United States and ended up in Allegheny, Pennsylvania, a rapidly growing industrial town. Though it might have been a while before Carnegie returned to his country of birth, the lessons he learned at a young age would never be forgotten, nor the memories dissipate. Continuing his life in western Pennsylvania, Carnegie worked his first job at thirteen years of age. He was employed as a bobbin boy, working twelve hours per day, seven days of the week; delivering thread to women laboring
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Tom Scott was one of the major railroad manufacturers in the 1800s. Andrew Carnegie was Tom Scott’s assistant when he was young. Scott grew fond of Carnegie and made him his personal assistant. This is how Carnegie’s skyrocketing business started. As he grew older, he was very helpful to Tom Scott’s business in the railroads, which is why Tom Scott was helpful towards Carnegie’s business as it first began.
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During the late 19th century, there was a growth in industrialization. This brought new opportunities for the poor and the rich. For example, Carnegie helped build the steel industry in Pittsburgh Pennsylvania, which made him one of the richest man in the world. As Carnegie gained more wealth, he questioned who money should be given to. Carnegie was both a Robber Baron and a Captain of Industry.
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