How Was Andrew Carnegie A Captain Of Industry

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Questions: Take detailed notes from the reading about the ways in which Carnegie was a Captain of Industry (Bullet-points are fine). Andrew Carnegie was a successful businessman and industrialist who made significant fortune in the steel industry known for his innovative techniques and methods for producing steel, which allowed him to significantly reduce costs and increase efficiency in his factories believed in the principle of "vertical integration," meaning he owned and controlled every aspect of the steel production process, from the raw materials to the finished product $4 million dollar relief fund to assist injured employees and pensions to families dependent on those killed He made much philanthropic efforts by donating millions of …show more content…

Explain its meaning. “The man who dies leaving behind many millions of available wealth, which was his to administer during life, will pass unwept, unhonored and unsung.’... The public verdict will then be: ‘The man [who] dies thus rich dies disgraced.’ ” This quote suggests that Carnegie believed that individuals who had achieved greatness were to use their resources to make a positive impact on society and help the opportunities of others. In his view, hoarding wealth and failing to use it for the greater good was shameful. Carnegie, following his philosophy, donated millions of dollars to fund libraries, cultural institutions and education all around the world. By building and funding such institutions, Carnegie left behind a semblance of his positive contributions as a Captain of industry by setting an example for others in his position. Take detailed notes from the reading about why Carnegie was a Robber Baron (bullets are fine). Some viewed Carnegie as the “Robber Baron” which was used to describe the wealthy and ruthless business leaders who used their affluence and power to manipulate others for their own …show more content…

Explain its meaning. “strictest economies, among which the rates paid to labor figure prominently, and often there is friction between the employer and the employed, between capital and labor, between rich and poor. While the law is sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department. We accept and welcome therefore... great inequality of environment, the concentration of business, industrial and commercial in the hands of the