ipl-logo

How Did Milton Hershey Create A Free Enterprise System

981 Words4 Pages
bulb-icon

Recommended: Milton hershey s positive impact

A free enterprise system allowed Milton Hershey to create one of the worlds most popular chocolate companies and worldwide brand. His success would not have been possible without this kind of government system. Starting at age fifteen he built one of the great American fortunes from the ground up and brought joy to millions. This type of government allowed him to switch and choose what he sold and how to make it. It also gave him the freedom to decide what to spend his money on which led to the Hershey town and the Milton Hershey School. Milton was able to modernize the chocolate industry using innovative machinery and techniques. The freedom that a free enterprise system offers gave Milton the opportunity to choose what he wanted to sell …show more content…

While he did spend some on production and machinery, he used it to share his wealth with others. This led to the creation of the town of Hershey and The Milton Hershey school. Hershey set out to build not just a chocolate factory, but the ideal town where the work force could live, play, work and prosper. Unlike others of his time, he treated employees like family and made sure everyone worked as a team. The town was built for his employees to help mass production and close proximity, it became much more than that. The factory was modern in every way, with high-tech machinery that eliminated the cost and tedium of making and wrapping chocolate by hand, and made possible the mass production of high-quality milk chocolate at affordable prices. Even after all of this was built and finished, he still had a large amount of money to spend. He was firm believer that one is obligated to share his wealth with others. As a result, he made many philanthropic contributions to society, the most prominent of which is the Milton Hershey School. He established the school in 1909 so poor, orphaned boys could have a good home and a better chance at life. He donated over $60 million in trust and 40% of his company in common stock. The school still stands today and is home to nearly a thousand children in

Show More
Related

Andrew Carnegie's Laissez-Faire: Robber Barons

744 Words | 3 Pages

Laissez-faire was a policy followed by the U.S. government that entailed the government could not take part in the affairs of businesses. Many entrepreneurs and businessmen, during the 19th century, took advantage of this, to its fullest extent. One of these men was Andrew Carnegie; an influential, wealthy businessman who became a prominent monopolist of the steel industry. However, contrary to popular belief, he was a robber baron, in that he became rich through unscrupulous acts. Carnegie exercised immoral business practices that included giving low wages to employees, lack of empathy towards his employees , and his deceitful nature.

Read More

How Did Andrew Carnegie Win

277 Words | 2 Pages

The free enterprise system offered Andrew Carnegie unrestricted industrial power, used by profit focused individuals like himself. Andrew Carnegie went on to become one of the wealthiest men of the 19th century. He came into the nicknames of "the steel magnate" and the "oil baron". Early on Carnegie had the strong characteristics of a successful entrepreneur. Carnegie had a ruthless financial and organizational skill and a great appetite for cost efficient production, and a keen eye for innovation.

Read More

Summary Of The Market Revolution By John Lauritz Larson

1675 Words | 7 Pages

John Lauritz Larson the professor of history at Purdue University explores the captivating consequences that result from the market revolution in early America. With a passion for the matter and creative thinking, his research leads him to unanticipated consequences that plunge Americans with the transition to capitalism that relates economic change to the liberty and self-determination of individuals. According to Larson, there are remnants that are still relevant in history today. The mass industrial democracy that is placed in the modern United States bears very little resemblance to the past which was a simple agrarian republic. All because of the market revolution, the transformation resulting in the tangled foundation we know today

Read More

Andrew Carnegie Dbq Essay

1277 Words | 6 Pages

Because of all the giving it shows how in some aspects of his life he was a hero and helped people who needed it. The final document that shows this is Document 2. This shows us a chart of production cost in relation to selling price throughout approximately 13 years. It shows how the production cost in 1875 was very expensive going at around $55 and sold at $65. By 1883-1888 it went down and production was $30 and the selling price was approximately $33.

Read More

Jim Valvano Never Give Up

723 Words | 3 Pages

The foundation has now raised over 150 million dollars due to the fact that it is one of the most well known

Read More

Big Business In America Dbq Essay

1432 Words | 6 Pages

The big businesses in America during the gilded age (1870-1900) were controlled by a small group of very wealthy men who would each monopolistically control their industry. The growing fortune of these men allowed them to control their workers, prices, and all other aspects of the American economy without fearing any sort of restriction or punishment. Big business was able to get away without any repercussions because their great wealth allowed them to control the politicians, thus they controlled all politics and legislation as well. Even though these acts by big business seem terrible at first glance, they greatly improved the economy and changed the politics in such a way that allowed America to grow into one of the most powerful nations

Read More

How The Economic Changes Between 1877 And 1920s

670 Words | 3 Pages

Between 1877 and 1920, America was reborn economically and industrially, which go hand in hand. The United States owe all of this economic growth as the result of Reconstruction during the post-Civil War era. From the 1880s and on, there was a “rapid expansion of factory production, mining, and railroad construction” (Foner 605). The expansion out west contributed to the expansion because companies were no longer limited to working either in the south or the New England area, and “a working free labor system” (Foner 571) established by the Freedman’s Bureau, an agency created during Reconstruction. Andrew Carnegie was a leader for helping the United States being able to be successful in industrializing the country by creating companies along every step of the way to construct a

Read More

How Did Andrew Carnegie Contribute To Capitalism

871 Words | 4 Pages

Investing by age 11, Buffett was running a small business at the age of 13. Within time, Warren established firm Buffett Partnership in Omaha, with enormous success. In 2006, Buffett announced that he would give his entire fortune away to charity (est. $62 bil.), the largest act of charitable giving in United States history. His main focus was to share wealth through out the world.

Read More

Captain Of Industry Dbq Analysis

925 Words | 4 Pages

Carnegie donated money to establish ($350 million worth) libraries, schools, universities, and pension funds for his employees. James J. Hill provided seed, grain, and cattle to farmers during the Great Depression. (Hook Exercise). These entrepreneurs promoted inventions that enhanced the way we live in the developing technological era. When people were in need, these captains of industry were there to save the day, sharing their money like it was no big deal; only it really was to the ones who needed

Read More

How Did The New Deal Influence American Freedom

541 Words | 3 Pages

During the misfortune month of October of 1929, the United States experienced one of the most horrifying depressions of them all. Starting with The Wall Street Crash of 1929, America commenced feeling the terrifying symptom of the Great Depression that would last for several exhausted years. Surrounded by millions of unemployed citizens starving to death, the government changed the philosophy of how the government should help their people to prosper. Later on, the dedicated 32nd president, Franklin Delano Roosevelt, would take the position on 1933 and would present his astute program, the New Deal. Roosevelt explained his plan with detail as the Three Rs, for which they stand as Relief, Reform, and Recovery.

Read More

What The Saleslady Knows In The Poem Oranges By Gary Soto

159 Words | 1 Pages

The saleslady wouldn’t have let him pay for it with an orange but she saw the girl with him and knew it was about her. The author let the reader know that love is significant to many people which is the saleslady helped him out. We then find out that he actually bought the chocolate for her when the author said “Then released it to let her unwrap

Read More

Woodrow Wilson's Contribution To The Progressive Era

485 Words | 2 Pages

The Progressive Era is one of the reasons America still stands strong today. It lasted from the 1890’s to the 1920’s and seeked to reform American policies and government. There are 3 main people who have contributed to the Progressive area - Theodore Roosevelt, William Taft, and Woodrow Wilson. These three presidents enforced and introduced laws and regulations that allowed more flexibility and choice for the people, and they are still in use today. If it weren’t for them, America would still be overly ruled by corporations and silenced by the government and our people would be sick.

Read More

Marx And Arendt's Analysis

1813 Words | 8 Pages

Marx and Arendt are two brilliant political theorists who pose different concerns, beliefs and ideals when it comes to the relationship between economics and freedom. Marx defines freedom as creative self- actualization which contrasts Arendt’s definition of freedom as worldly and eruptive action. Marx’s definition is more focused on the individual, which in turn will better society while Arendt is more focused on action as community. Marx believes in a society free from economic oppression by the elite while Arendt believes in one where poverty and politics do not meet. Economics and freedom, according to Marx, are intertwined in such a way that they cannot be separated.

Read More

Pros And Cons Of Andrew Carnegie

765 Words | 4 Pages

Richard displays this by including Carnegies expenses such as “$10 million to found the Carnegie Endowment for Peace” furthermore demonstrating that Carnegie did not spend his money on the business. However, Harold explains that Carnegies investments on developing the community is his way of repaying the community for their contribution to his

Read More

Porter's Five Forces Analysis Of Cadbury

2096 Words | 9 Pages

These potential competitors represents the barriers to entry for instance, the requirement of a high venture, the processes set by the management and also a brand which is well-known by the public to reduce the intimidation set by potential competitors which are due to enter the market sooner or later. Seeing that chocolate is famous world-wide, the possibility for new companies to penetrate the market with new chocolate recipes that are able to capture the consumers’ hearts regardless of

Read More

More about How Did Milton Hershey Create A Free Enterprise System

Related Topics

Open Document