How Did Robber Barons Affect The Economy

Andrew Carnegie was one of the richest men of his era. He helped to completely change the Industrial Era, and had a large impact on American history. Although Andrew Carnegie was a rich man, he was not always that way. Growing up in Scotland and later moving to America with his family, Carnegie faced many challenges in his life; however, these challenges helped to make him stronger and more successful.

Using his excess of wealth John Pierpoint Morgan, a successful banker and owner of U.S. Steel, helped the economy, revolutionized the steel industry and to a few favored causes was a generous philanthropist. Junius Spencer Morgan, father of John Pierpoint Morgan was a successful international banker who would leave behind a large fortune to his son. John Pierpoint Morgan would follow in his father’s footsteps and become a successful banker. John Pierpoint Morgan was the owner of U.S. Steel, the world's first billion dollar corporation. John Pierpoint Morgan used his monetary influence in many ways that affected America, he helped pull the economy out of collapse in 1907, became a philanthropist to a few favored causes and would later become

Besides General Electric and AT&T, J.P. Morgan was also heavily involved in the creation of U.S. Steel (“Key Moments In J.P. Morgan History”). Andrew Carnegie had created Carnegie steel in Pittsburgh. Elbert H. Gary founded Federal Steel Company, a rival to Carnegie Steel, in Chicago. Along with companies like National Steel, National Tube, American Steel and Wire, American Steel Hoop, American Sheet Steel, American Tinplate, and many more, Morgan helped create a steel supergiant (“United States Steel Corporation”). Thirty-three companies were merged under U.S. Steel to create the first billion dollar company in American history.

He later moved to the United States at a young age of 13, where he worked a multiple of railroad jobs. Through this experience, Carnegie learned the fundamentals of the business world and the railroad industry, in which he came to leave in 1865. By the following decade, the vast majority of Carnegie's time was committed to the steel industry, in which he later used to emerge his own steel company. His business got to be known as the Carnegie Steel Company, revolutionized steel production in the United States. Carnegie fabricated plants around the nation, utilizing innovations and methods that made manufacturing steel easier, quicker and more profitable.

The gilded age brought many new technological advances that sparked an uprising of many American industries. The impact of these technical innovations, during this era, changed many peoples perspective of their current time frame. Many owners of theses new industries became extremely wealthy, with some even being wealthy enough to help the country's economy sustain an neutral level. The invention of the light bulb let to a huge impact in the electricity industry with one well known entrepreneur wanting this as his investment, also known as J.P. Morgan.

Andrew Carnegie created the worlds largest and most profitable steel company making him one of the wealthiest men in the world. Carnegie believed that certain people had the ability do certain things and you must overcome obstacles to do the impossible. Meaning if you have the money and means you are more fit than others. He justified his wealth as benefiting society and promoting civilization.

As Carnegie owns almost everything he uses for his business, it is a significant reason for his great success. Owning everything within proximity of himself allows Carnegie to oversee his production and have better control over his company. Additionally, by owning all of his production and transportation services it allows Carnegie to lower the cost of his product, thus eliminating his competition. Selling products at a lower cost makes it more difficult for other companies to try to compete with Carnegie, which essentially makes his business at the top. It is clearly visible that by adopting vertical integration techniques, it makes Carnegie's business very efficient and practical.

During the late 1800’s, early 1900’s America began the famous industrial race to success. At the head of the race, yearning for success, was Andrew Carnegie. Scotland born in 1835, Carnegie moved to the United States with nothing but soon grew with prosperous steps, speeding his way to the top as a profitable business man through the steel industry. His path to success may be filled with some hardship of distrust and mishaps with money hungry co-workers, but in the end he created, with his infinite wealth, enormous amounts of buildings and educational centers to benefit mankind in the long run. This is a deed of a kind man.

Andrew Carnegie comes from a humble beginning; as to show he worked when he was a 13 year older at a factory all day long just to later study at night. Andrew Carnegie’s interest in education begins during this period of his life because they lent him books to study, but he grew up he focused mainly on businesses and money. Working as a telegraph messenger boy he gets to know his new boss, the Superintendent of the Pennsylvania Railroad, yet Carnegie later takes his bosses job. Carnegie’s new job gives him the opportunity to invest in companies what were not expected to have to much profits, however, this investments gave him the opportunity to invest in other sectors such as oil. As Carnegie grew rich he founded the first steel company in

Kayti Davenport Hanna, Josh HIST 1493 7 May 2023 Andrew Carnegie's influences made America rich The richest man in America was not always wealthy beyond belief. Andrew Carnegie was the wealthiest Scottish American in the late 19th century storming through the American steel industry. Andrew Carnegie's philosophy was that wealthy individuals like himself have a social responsibility to give to the greater good. Carnegie’s three modes affirmed the economic explosion in America by arguing that wealth can be left to the families of the decedents, be bequeathed for public purposes; or, finally, be administered during their lives by its possessors to continue the wealth of the public.

During the second Industrial Revolution, there were no movie stars, no superheroes or celebrities. During that time people looked to the business industry for a hero. A hero like Andrew Carnegie. Carnegie grew up poor, he worked from the age of twelve to make ends meet for his family (background). That’s just one reason Carnegie was a hero, because he came from nothing.

Andrew Carnegie was an entrepreneur during the late 1800s. He was best known for his success in his own steel company. Over the years Carnegie became very wealthy once his steel business took off. Carnegie was known as the richest man in the world in that era. Being the richest man in the world wasn't always easy, it came with long hours of work and constant decision making.

He was smart and made investments in the oil business. THis proved to be a wise choice as it soon led to great amounts of profit for him. He eventually left the railroad company and focused his time on the steel business. His business would later be known as Carnegie Steel. The strategy Carnegie used to make his business progress faster than anyone has seen before.

Carnegie learned in order to become a millionaire in the steel industry he had to own the steps of manufacturing a product. Somehow, he found himself in charge of four. Shipping raw materials and minerals such as limestone, coal, coke, and manganese over the railroad was already one. Andrew Carnegie also had the production going well through many factories, ore ships, and steam shovels.

Andrew Carnegie was an immigrant from Scotland who rose from rags to riches through his hard work in the steel industry. He was an industrious leader who helped in transforming the American economy with his business strategies, which was shown later by his success, and then also demonstrated his philanthropy by donating millions of dollars for the betterment of society. Although it can be argued that he was a robber baron who unjustly pushed himself to the top, Andrew Carnegie was truly a captain of industry, as he positively contributed to the country in many ways. One piece of evidence representing Carnegie as a captain of industry is the various business tactics he used. Immigrating to America penniless, Carnegie knew how important it was