WERE THE INDUSTRIALISTS OF THE LATE 19TH CENTURY CAPTAINS OF INDUSTRY OR ROBBER BARONS? Three of the most notable Industrialists of the late 19th century were John D. Rockefeller, Andrew Carnegie and Gustavus Swift. John D. Rockefeller was born in July 8, 1839-May 23, 1937. Born into a family of Bill Rockefeller and Eliza Davison. He was the founder of Standard Oil Company in 1870. Rockefeller was the wealthiest man of his time. He invested his time and money in a refinery, producing about 90 percent of the nation’s refining volume and also engaging in the building of transportation facilities such as pipelines and tanker ships. As time progressed Standard Oil Company gained enough momentum to take over the vertical and horizontal integration of the American oil industry. His competitors were often intimidated by his approached to business and the use of double standards to persuade them to join his idea of business or face the consequences of being driven out of business.
Although Rockefeller business skills was widely debated as unethical, he is one of the successful entrepreneur that has shaped America to what it is today. The consolidation of Standard Oil Company led to monopoly of the
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He was born in Scotland on November 25, 1835- August 11, 1919. Born into a poor family of William Carnegie and Margaret Carnegie. He began working at the age of 13 as a bobbin boy, He was a serious and hardworking employee which gave him a platform for success later in life. In 1875 Andrew Carnegie constructed the nation’s enormous steel plant which created jobs for 1,500 workers and in 1901 the industry expanded in employment of 8,000 workers. He sacrificed his attention to the production of steel and iron and always keep his prices at a minimum range rather than deal with the competitors. Carnegie was the greatest steel producer in the United States and a philanthropist who invested his money in learning and