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How Did Andrew Carnegie Impact The Economy

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Andrew Carnegie’s Impact on The U.S. Economy and Its Citizens The actions of the fast-growing industrialists greatly impacted the U.S. economy and its citizens. With industrialists like Andrew Carnegie using monopolistic tactics to beat all other competitors in their industries, people are doing anything to stay on top. That included lowering the quality of life for U.S. citizens by paying them lower wages for longer hours. Most industrialists focused more on how they could make a quick dollar than worrying about who was affected by their choices. On the other hand, some could say that the industrialists bettered the economy by expanding many different industries in America and bringing in more income and customers for the U.S. However, I believe that in the end, …show more content…

People believed that even the lowest of workers deserved respect and the right amount of money for their work. Next, in the 1892 political cartoon “Forty-Millionaire Carnegie in his Great Double Role” by David P. Demarest, Carnegie is portrayed as being two-faced. The caption in the cartoon states, “Forty-Millionaire Carnegie in his great double role. As the tight-fisted employer he reduces wages so that he may play philanthropist and give away libraries, etc” (Demarest). In the cartoon, he is seen lowering the pay for his workers, while his other face can be seen giving out money and libraries. Andrew Carnegie spent his life accumulating money by treating his workers poorly, and he does not really share it with others, especially the poor. Then, as he gets older, he starts telling people that they should be giving their money away to the less fortunate, something he has not been doing until recently. Seeing his two personas side-by-side, as shown in the cartoon, helps you see what Carnegie truly acted

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Carnegie was “One of the richest men in Gilded Age America, he promoted what he called the Gospel of Wealth, the idea that those who accumulated money had an obligation to use it to promote the advancement of society. ”(Foner pg.32) This is exactly how he used his wealth to help the less fortunate. Although the Gilded age was good, there were a lot of negatives. There was a tremendous amount of “economic inequality because the state did not regulate the growth of business.

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In this composition, he addressed that the three ways for wealth to be distributed are give it to the family, use it for public service, or to administer it throughout the life of the possessor. (Wealth and Its Uses 31) He later goes on to explain that, “The only mode of producing lasting good by giving large sums of money is from the millionaire to give as close attention to its distribution during his life as he did to its acquisition” (Wealth and Its Uses 31). From all the uses that he listed, it is clear that he believed most strongly in giving large sums of money for the people. Carnegie used dedication and strategical thinking to build a fortune and use it to help others.

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Industrialist impacted the gilded age by creating monopoly on products. Thy also created new ways to do things such as the pipeline. They also changed the government by changing polocies and creating acts to ensure fair practices. Industrialist such as Vanderbelt had a monopoly on the rail road, and Rochafeller created a monopoly on the oil bussness. This changed a lot of peoples lives because they put people out of bussness they put people out of business or they worked under them.

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Carnegie could have discussed the reservations the poor had about the ability of some to become rich through industrialization and how they felt about his Gospel of Wealth. Did the poor really want money from the rich, who had control of many forces throughout the nation? Carnegie fails to provide a bias opinion on the divide between the rich and the poor because he is no longer poor. He expresses the faults in the wealthy hoarding their money for themselves, but continues to believe the wealthy should exist. The classifications of rich and poor also goes against Carnegie’s belief that the American society was changing into something new, when in reality they were adopting some of the old colonial ways like

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Carnegie thinks it is better to build public institutions than give charity to the poor because the poor need to have the “desire to improve” and find help in these public institutions. (Carnegie 30). He believes that rather wealthy “Men who continue hoarding great sums all their lives” can find the proper use for their money, which is to help the community. (Carnegie 29). By just giving money to the poor the wealthy are doing all their work and instead the poor should find the assistance they need to improve their lives.

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The impact industrialist had on the Gilded Age was huge. It pretty much started America and helped the economy big time. The things that impacted the most were travel, business, and workers. Railroads helped improve travel a whole lot. Instead of walking or riding horses everywhere, we built railroads.

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History Paper The Industrial Revolution brought radical change to the United States in what is now called the Gilded Age. As the country transitioned from an agricultural based economy to a industry based economy, the richest men in American history were crowned. The legacy of these men, now deemed robber barons by some, and captains of industry by others, have shaped America forever. One of the most prominent figures of the time, Andrew Carnegie, pushed America forward, and made amazingly generous charitable contributions, but the scandals regarding the treatment of his employees will forever tarnish his legacy.

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Industrialist had a major impact on the U.S. during the Gilded Age. They increased production rapidly and efficiently. Therefore decreasing the need for labored workers. With the industries advancing in technology, and increasing the outcome of which the products are made.

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Andrew Carnegie, the author of the gospel of wealth, argues that the poor should praise the capitalist for they are their trustees, justifying his superiority with social Darwinism and idea that many of the industrialists adopted (Document 4). The wealthy believed in natural selection and survival of the fittest, implementing the idea that the wealthy were, in fact, superior to the poor regarding social classes. The wealthy also believed in laissez-faire which promoted the idea of not letting the government interfere in the markets, which actually resulted in a negative impact on the working class. This political cartoon represent the capitalism in America in which the large private corporations were the ones in control of the national industry, which infuriated the working class because they had no social security (Document 3). The private monopolies were using trusts to suck all of the money from the people, and no action was made against it because of capitalism.

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Industrialist had a huge impact on the gilded age. The gilded age was a rapid expansion of industrialism and a massive jump in the population of immigrants in america. The industrialist during the gilded age such as Andrew Carnegie, John D. Rockefeller, and Vanderbilt had a big impact because of their businesses. Vanderbilt was the first of the three to be a leader of industry. Vanderbilt made millions using the railroad system and built an empire with them.

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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 turned into a wealthy man and had struggles on the way. Industrialization is the process of developing new and reformed industries for countries, states, industries, etc. There was a lot of controversy with the upcoming industrialization in the 1800s. Although Carnegie was extremely wealthy, his actions may not be justified. The way he treated his employees and how much their wage was, was very conversed.

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Carnegie’s sympathetic attitude towards the poor made him a hero in the eyes of many, and thus “before his death, he gave away more than $300 million most notably to public libraries” (Roark 524). Carnegie firmly believed that the condition of the poor can be improved if those in power helped them financially. Carnegie's this belief challenges the idea of social darwinism which states, “ societal progress came about as a result of relentless competition in which the strong survived and the weak died out” (Roark, 530). Although Carnegie had experienced poverty early in his life, he was still able to overcome poverty and become one of the wealthiest persons in the United States. He knew that in the long run, for the “survival of the fittest”, the weak do not necessarily have to fail if others decide to help them.

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Industrialization and Industrialists had many important impacts on America. The era of industrialization known as the " Gilded Age" opened up many new doors for the American people. The industrialist Andrew Carnegie had one of the biggest impacts on America by far. Carnegie was responsible for the production of steel.

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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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