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Were Captains Of Industry

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The industrialists were captains of industry. I think this because they benefit our society and moved our economy. First, they were captains of industry because they overall benefitted our society. The competition they engaged in drove down prices for consumers. They created economies of scale that were beneficial to the country as a whole, allowing things like the building of the transcontinental railroad. Furthermore, they were major givers of philanthropy. Carnegie built thousands of public libraries using his donation of over $350 million. Rockefeller created a charitable foundation and also created a university (the University of Chicago). These were not men who were hoarding their money. Second, they helped the less wealthy. This
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Although many citizens viewed capitalists as “Captains of Industry,” they can also, just as easily, be seen as “Robber Barons.” Even though railroads were beneficial to society, they were not without corruption, as shown by the Credit Mobilier scandal. This was a railroad company that paid itself huge sums of money for small railroad construction. In fact, it received twenty-three million dollars in profit. Moreover, the railroad industry could be seen as completely insincere and dishonest because of its monopoles.

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A Captain of Industry is used to describe a successful businessman. Carnegie created an efficient steel industry. He did this by, converting iron into steel and built a new steel plant for his company called, Carnegie Steel Company. In the excerpt, “Who was Andrew Carnegie,” the author says, “Carnegie changed huge batches of iron into steel, which was much more flexible than brittle iron. Carnegie threw his own money into the process and even borrowed heavily to build a new steel plant near Pittsburgh.”

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Andrew Carnegie Is Not A Hero Essay

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Andrew Carnegie and John D. Rockefeller were hardworking and used their money to help others instead of keeping it for themselves. They both started and donated to charities. Carnegie gave away most of his money before he died and established thousands of libraries.

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