Carnegie's Contribution to Industrial Business

Andrew Carnegie was one of the wealthiest men in America but his wealth didn’t come without hard work and dedication. Carnegie was born in “Dunfermline, Scotland on November 25, 1835” (Tyle). According to Laura B. Tyle, the invention of the weaving machine unfortunately pushed Carnegie’s family in to poverty “In 1848, Carnegie’s family left Scotland and moved to Allegheny City, Pennsylvania, where his father and eventually him worked in a cotton factory” (Tyle). After leaving the cotton factory “Carnegie became a messenger boy for the Pittsburgh telegraph office and eventually made his way up to telegraph operator” (Tyle). According to Laura B. Tyle “Thomas A. Scott, the superintendent of the western division of the Pennsylvania Railroad, made Carnegie his secretary at the age of eighteen.” Later, Carnegie took over Scott’s position of the railroad. Furthermore Carnegie “began to see that steel was going to replace iron and by 1873 he organized a steel rail company” (Tyle). According to Laura B. Tyle he continued to build his company when he “cut prices, drove out competitors,

Without Carnegie, the steel industry, and the second industrial revolution in general, would never have progressed as much as it did. Carnegie did what was necessary to make the steel industry more productive and more efficient, for less money. He was a shrewd, ruthless, businessman who’s aggressiveness made the steel, railroad, and oil industries so economically successful. These characteristics, though not always looked upon as nice or sympathetic, were sometimes necessary. He had paid his time as a poor factory boy, and now it was his turn to live comfortably and aid others less fortunate to work towards the same success.

The Carnegie Steel Company was a successful factory, which employed many hundred of workers. Andrew Carnegie, who was the owner of the company, wanted a large successful business, which he had achieved already, but he was always looking for ways to save and make more money. By 1892, unions had been formed

As young immigrant child living in the rural ruins Andrew Carnegie was forced to not receive education and held accountable for his family´s well being. One of his early jobs was a telegrapher this job gave him the experience that led him to becoming Thomas Scott´s protégé in the railroad business. By this, Carnegie obtained many knowledge from the desiscions Scott made, which eventually help Carnegie create the sensational Steel Industry. Although, Carnegie´s story is one of the most admired through-out this era, however in his early life things weren’t effortless. The responsibility taken by him during his childhood was colossal having to work everyday to sustain a single mother raised family is not a piece of cake. Similiarly,the average life a coal miner entails how poor children had to appear at the coal mine everyday risking their life each second spent in the fuming mines, and all for a couple of cents a day. This caused a an enormous impact on Carnegie´s perspective over wealth, he believed if people wanted to overcome

Many people at the time were living in poverty and there weren’t enough jobs that had sufficient pay to support a family. The steel industry was one that had the highest earning wages. The average daily wage at the time for iron and steel workers were $1.87, this is far above other industries that had a smaller amount of pay. Others can argue that because of the bad working conditions workers faced in the steel industries, Carnegie shouldn’t be considered a hero. But isn’t the goal of a business to create more jobs? Carnegie believed that it was proper to have completion between the rich and the poor because if there wasn’t, there would be no individuals capable enough to provide such jobs to further expand the essential needs of laborer and those of the economy (Doc 3). When Carnegie sold the Carnegie Steel company to J.P Morgan for $400 Million, the newly named company (U.S Steel) created numerous amounts of jobs employing 168,000 people.

Andrew Carnegie was known to be the most hypocritical of all robber barons. He supported worker’s rights but couldn’t uphold his own moral code. Under his watch, his company cut worker’s wages and extended hours. Carnegie caused an uprise of his own workers and created the Homestead Strike of 1892. He approved that his company should hire men to intimidate the workers into submission, which sparked violence and ultimately resulted in many people getting killed. Andrew Carnegie used his wealth and influence to his benefit, paying a replacement to fight for him to avoid getting drafted in the Civil War. Andrew Carnegie was a powerful robber baron that used vertical integration to control the steel industry.

     Let us first look at Mr. Andrew Carnegie. Carnegie was a mogul in the steel industry. Carnegie

Carnegie didn’t let the Industrial Revolution that destroyed his father’s business destroy him. As a young boy in Pittsburgh, Pennsylvania Carnegie began working in a factory. He despised this position but it made him stronger and he pushed on in his hunt for his new future. In so doing, he was able to gain a fresh outlook with a position in a telegraph office. From here, he developed a skill that all successful business men need to master; Carnegie learned the artful skill of making business connections. This new talent is what led Carnegie to his relationship with Thomas Scott. Scott helped Carnegie by getting him a job with Pennsylvania Railroad. This position was a crucial turning point in Carnegie’s career.

Carnegie earned a lot of money from his investments and quit his job with the railroad to focus on his business affairs, which included frequent traveling to Europe to sell railroad bonds. On one trip, Andrew Carnegie met the English inventor, Sir Henry Bessemer, who had invented a new process for making high quality steel efficiently and cheaply. After meeting Bessemer, Carnegie decided to concentrate his investments in the steel industry. He opened a steel company in Pittsburgh and adapted his steel mills to use the Bessemer process. The process allowed Andrew Carnegie to manufacture steel efficiently and cheaply. To increase manufacturing efficiency even further, Carnegie began the vertical and horizontal integration of the steel industry, which allowed Carnegie Steel Company to save money as it expanded. He quickly became one of the richest people in history due to his hard work before the creation of Carnegie Steel and during its operation. Andrew Carnegie sold Carnegie Steel Company to J.P. Morgan. Carnegie became a philanthropist in his retirement and gave away $350 million, which was about 90% of his fortune. He built

Two of the most well-known and successful companies of the Industrial Revolution were the Standard Oil Company, and the Carnegie Steel Company. Both were exceedingly successful in virtually removing all competition in their respective fields of business and controlling almost all of the production capacity of their respective products in the United States. Their founders, John D. Rockefeller of the Standard Oil Co., and Andrew Carnegie of the Carnegie Steel Co. conducted business practices that were different from one another in how they dealt with competition as seen in the undercutting or cheap type

When Carnegie decided to go into business for himself, he chose the steel industry, but his success came at the expense of his workers. He decided he should own the entire supply chain from iron mines and coal fields (to supply his raw materials) to ships and railroads (to deliver his products). He expanded rapidly; not

In the movie, The Richest Man in the World, Andrew Carnegie played a major role in influencing the Industrial Revolution, which changed the economy of the US and the world forever. This era brought upon significant changes through economic developments that would not only change the ways of the economy but also the social aspect of society, especially within the cities where this growth was located. The shift from hand-made to machine-made products increased productivity and decreased costs. Through the innovations of the new forms of energy, such as iron, and then steel, establishments of factories began, competition between businessmen arose, and innovations of transportation in the city through railroads and bridges developed. The

It illustrated the poor conditions of labour, which contributed to industrialization and a labour union, which took care of fighting for benefits and the working conditions of these child labourers. Andrew Carnegie’s article (as seen in document D) proposes the idea of the rich using their wealth to improve society, as he believed that the fact that a person was rich, showed that he was more fit than others. Carnegie acknowledged that the living conditions were poor and wanted to help change that. This introduced industrialization into the Gilded Age. In the late 19th Century, Carnegie led the enormous expansion of the American steel

He established many other steel plants, and in 1892, he merged all of his interests into the Carnegie Steel Company. This act from Carnegie is fitting with one of his most famous quotations, "Put all of your eggs in one basket, and then watch that basket." This firm became one of the greatest industrial enterprises in America. Carnegie later sold it to J.P. Morgan's United States Steel Corporation in 1901 for $400 million, which would be a little over $4 billion today! After retiring, Carnegie's fortune was estimated to be as large as half a billion dollars. From that time on, with the philosophy that the rich have a moral obligation to give away their money, he devoted himself to philanthropy. Although ironic, this man of great fortune strongly believed in the merits of poverty for the development of character and work ethic, and determined that wealthy men should not leave their fortunes to their children, but should give it away, claiming "The man who dies thus rich, dies disgraced." The picture of community service, Carnegie is quoted as saying, "Pittsburgh entered the core of my heart when I was a boy, and cannot be torn out. I can never be one hair's breadth less loyal to her, or less anxious to help her in any way, than I have been since I could help anything. My treasure is still with you, and how best to serve Pittsburgh is the question which occurs to me almost every day of my life." Colonel James Anderson, who Carnegie

with his steel to transform cities and he donated most of his wealth to others, donating up to 90% of his fortune. According to robber barons and captains of industry document in checkpoint 2, Carnegie is a philanthropist who is part of the steel industry. He lowered the cost of his steel mills which made them popular very quickly. His steel made the industry grow very quickly.