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How Did Andrew Carnegie Contribute To Capitalism

711 Words3 Pages

Zack Spira 10/16/14
Study Skills Mr.Allison
In the late 1800s not too many business owners became wealthy and took control of industries. Andrew Carnegie's parents were poor immigrants from Scotland and began to work their way up to be business leaders. Carnegie built the largest steel company and created a monopoly. He used his fortune to donate to charities and became the greatest philanthropist of all time. Despite his humble beginnings, Andrew Carnegie built the largest steel company and became a well known philanthropist.
Andrew Carnegie was an American immigrant. Andrew was born on November 25, 1835 in the small town of Donfermline Scotland. (McGill 1). His father, William was a successful weaver who moved …show more content…

In 1873 he began to build The Edgar Thomson Steel Works factory. When the factory opened Andrew traveled to all railroad owners convincing them to buy his steel. On September 1st 1875 The Edgar Thomson Steel Works factory produced two thousand rails for the Pennsylvania Railroad alone (DE Capua 2). Andrews Employs hated him because of harsh conditions and low pay, he supported the eighteen hour work day and didn't pay his employs a lot because he did not want them to waste the money on drugs and alcohol (McGill 3). On the one year anniversary of the factory it produced 21,674 of steel making the Edgar Thomson Steel Works factory the worlds largest modern steel mill ever. Andrew Carnegie was now the "King Of Steel" (DE Capua 29). When Andrew was called away to Europe Hennery Frick was in charge and under Fricks command there was the homestead strike and Carnegie was considered an

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Working as a personal telegrapher he came up with two ideas to help make the railroads more efficient and these two ideas were the most successful ideas. In 1859, he was promoted to Pennsylvania railroad superintendent. In 1861, Carnegie started the freedom iron company. Since the railroads were getting destroyed in war and deteriorating over time the iron business allowed him to bring in a lot of money since he was the biggest iron maker. In 1865, Andrew changed paths and sold the freedom iron company to make the keystone bridge company, this was revolutionary because this is when bridges started being built with iron instead of wood.

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Haley Farrell 8/7/14 AP U.S History Summer Assignment • Andrew Carnegie was an industrialist who influenced the enlargement of the American steel industry in the conclusion of the 19th century. In his era, he was one of the most well-known philanthropists who had also given most of his wealth to charities and foundations. Carnegie believed that those who are wealthy should distribute their riches to work towards amelioration of society and to reduce the gap between socioeconomic statuses, which he expressed in an article called “The Gospel of Wealth” in 1889. Andrew gained his fortune by investing in railroads and bridges in the 1860’s and then later became a bond salesman in which he worked to elevate American enterprise in European countries.

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Andrew Carnegie: The Ultimate Robber Baron Four hundred and seventy-five million dollars. This is the overwhelmingly large amount of money Andrew Carnegie acquired during his lifetime. Though not privileged as a boy, he worked his way up the ladder, achieving more than anyone could have ever imagined. Unfortunately, many people were exploited on his way to the top.

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According to document 3, He told Frank Doubleday to quit his business instead of encourage him. From the Production Costs and Selling Prices for One Ton of Steel Rails(document 4), showed that Carnegie’s Edgar Thomson Steel Works always get a profit because of location. According to Map of Selected Carnegie Properties(document 5), showed about his industries location that make him got a lot of profit. According to document 6, he got a lot of profit, have many industries but his workers were unhappy. Because, the workers were overwork and got a very low wages.

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During this time, Carnegie bought stock and made several other investments, but in 1873 Carnegie sold out his other interests and focused primarily on the steel business. Carnegie later created the Carnegie Steel Business. Carnegie’s success can be credited to hard work, qualified help and his attention to small details. Carnegie was able to benefit from the 1890’s great depression. While some were going bankrupt, Carnegie used his wisdom and was able to obtain more steel production corporations by buying coal and iron mines, warehouses, ships and railroads so that he could gain control of all parts of the steel process.

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Andrew Carnegie created the worlds largest and most profitable steel company making him one of the wealthiest men in the world. Carnegie believed that certain people had the ability do certain things and you must overcome obstacles to do the impossible. Meaning if you have the money and means you are more fit than others. He justified his wealth as benefiting society and promoting civilization.

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Andrew Carnegie, a Scottish immigrant, industrialist, and philanthropist, amassed one of the largest fortunes in history, and revolutionized the American steel industry. Carnegie incorporated the Bessemer Process to manufacture steel while, utilizing vertical integration, and monopolization to establish his position in the global steel market. However, to create his steel empire Carnegie mistreated his workers, by providing them low salaries and long hours. Some say that Carnegie’s maltreatment of workers diminished his accomplishments, but his achievements in the steel industry and his philanthropism place him as one of the most successful Americans in history. Andrew Carnegie, was born November 25, 1835 in Dunfermline, Scotland, son of

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Who was Andrew Carnegie? Andrew Carnegie was 13 years old when he moved from Scotland with his family and began working in a textile factory. Eventually he would go on to run the most successful steel company in history. Carnegie first began his empire during the depression in 1873 by starting a steel company where he controlled everything from the beginning with raw materials all the way to the end with distribution.

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“No Man of business drew more attention that the king of steel, Andrew Carnegie” (Background Essay). Andrew Carnegie grew up in Dunfermline, Scotland and immigrated along with his family to the United States in the 1800s. He worked his way up from being a poor immigrant to working with people such as Rockefellers and JP Morgan. He became one the most famous industrialist who led the expansion of the steel industry.

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The strikers eventually won causing the company to stay closed. Then five days later the governor in Pennsylvania sent soldiers to restore order and re-open the the plant. Two months later the strike was called off, Carnegie was criticized for Fricks actions. Carnegie did a lot to achieve his large empire, he fought competitors and made good business

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It was the largest, featured the most sophisticated equipment, and could produce the widest range of product. Not only was this an important mill for the Carnegie Company, it was also the most important and sophisticated across the entire nation, even supplying iron slabs for the creation of the United States Navy’s vessels. In short, the product of the Homestead Steel Works was an important factor for many different people. In the coming years, this would prove to be a useful factor for the workers there, as well as problem for the growing steel

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Andrew Carnegie was one of the most famous and wealthiest American industrialist during the Industrial Age. He was a robber baron who made a fortune in the steel industry and applied vertical integration to his business. Carnegie contradicted his views as a robber baron because he supported, but destroyed many unions. This made many of his views unethical.

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Andrew Carnegie was born in Scotland in 1835 and immigrated with his family to Allegheny, Pennsylvania, when he was thirteen years old. Carnegie began to work right away and eventually built connections with the local telegraph company in Pittsburgh. This, along with his self-taught knowledge of telegraphy earned him a job as an assistant at the Pennsylvania Railroad. With the help of his boss, Thomas A. Scott, Carnegie was able to learn how to invest money successfully and then reinvest his profits. His investments were so successful that he was able to move into the iron and iron products industry, manufacturing components for bridges and railroad tracks.

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The late nineteenth century was a pivotal moment in American history. During this time, the Industrial Revolution transformed the nation, railroads had dissipated all throughout the country, and economic classes began to form, separating the wealthy from the poor. One of the wealthiest men of this generation was Andrew Carnegie, a Scottish immigrant who fled to America to make millions off the railroad, oil and even steel businesses. Carnegie is considered one of the richest men in history, and even with all that wealth he decided to give back to the community. As a matter of fact, Carnegie donated most of his funds to charities, universities and libraries in his last few years.

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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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