Captains Of Industry Essay

1010 words - 5 pages

American society is constantly evolving and changing, but has been consistently shaped by the American economy. The American dream of “rags to riches” drove production and allowed for the rapid rise of industry under the theory of Social Darwinism. The ideas of vertical integration, horizontal integration, and monopoly led to the expansion of railroads, the use of kerosene from refined oil to light homes, and the American domination of the steel industry. These recently introduced concepts and their repercussions are indebted to the businessmen who sought to manipulate and dominate the industry. Despite beginnings in poverty, determination and innovation led Andrew Carnegie and John D. ...view middle of the document...

Both Carnegie and Rockefeller were not afraid to make changes to their own industries in order to increase productivity levels and profit. After examining the Bessemer steel process on a trip to England, Carnegie returned home to America and developed his own factories to manufacture the steel at a cheaper cost. Carnegie initiated new management techniques to track costs and enforce precise accounting. (txtbk)He also bought out his coal and iron suppliers, as well as the railroad lines( txtbk). By eventually buying out the majority of his competing steel mills through horizontal integration, Carnegie was able to exercise complete control over the steel industry, allowing for the vertical rise of cities through skyscrapers and the widespread use of steel for reinforced bridges, such as the St. Louis bridge (video). Similarly, Rockefeller was disgusted by the wasteful oil process. He hired chemists to reexamine the oil refining process and as a result developed the Standard Oil Company, which used similar tactics to Carnegie to gain complete monopoly over the industry. While this monopoly may seem ruthless, the government made no attempt to control the actions of these men until the Sherman Antitrust Act in 1890, and Rockefeller was able to outmaneuver the law and reestablish his company as the government neglected to reinforce the act.
There were many wealthy businessmen of the 19th century, but Carnegie and Rockefeller’s generous donations of wealth set them apart as many of the institutions established by these men live on today. Carnegie used his vast fortune to establish over 3,000 public libraries and institutions of higher learning, including the development of the Carnegie Endowment for International Peace the Hague Palace of Peace in the Netherlands. By his death in 1919, he had given away more than $350 million, or approximately 90% of his wealth. Though despite claims of charitable donations as an attempt to soothe a guilty conscience, it is undeniable that Carnegie’s contributions had a positive effect on society. Rockefeller also demonstrated support of...

Find Another Essay On Captains of Industry

Were the industrialist leaders of the gilded age captains of their industry or robber barons?

541 words - 2 pages Examination of Industrialist Leaders - Final DraftSoon after the Reconstruction period, an era known as the Gilded Age erupted. During the 1870's - 1890's, America took a drastic leap into industrialization. Immigrants swarmed into the United States with the distinct hope of opportunity. Big business was soon in effect with a newly acquired demand for raw material. Shortly, monopolies emerged. These industrial leaders, whom were ingenious to the

Outcomes of the Second Industrial Revolution: DBQ

624 words - 3 pages The Second Industrial Revolution had a wide range outcomes, depending on different kinds of people. For the upper-class, including Captains of Industry and the newly developed leisure class, the majority of the outcomes were positive. The working class, for whom the Industrial revolution ruined many of the things that they once held valuable, and the New Immigrants ultimately were affected with many negative outcomes. the rise of the Second


826 words - 4 pages Businessmen of the Gilded Age like Carnegie, Rockefeller, Morgan, and Vanderbilt were captains of industry. Industrialists economically improved the United States by contributing the most money, which was made from the successes of their companies. In addition, they were financially beneficial to communities and set an example of philanthropy and lifestyle for others to follow. Moreover, they resorted to unscrupulous tactics not only for their


812 words - 4 pages The results were worth the means because in the end throughout all the negative situations the captains of industry faced they were able to make America better and create what America is today. As the captains of industry started competing against each other, one man came out as the head of America and that was Andrew Carnegie. Carnegie's steel industry, Homestead, allowed for cities to grow with the advancement of steel, "Steel-cable suspension

Andrew Carnegie and John D. Rockefeller

629 words - 3 pages Andrew Carnegie and John D. Rockefeller; Captains of industry, or robber barons?            True, Andrew Carnegie and John D Rockefeller may have been the most influential businessmen of the 19th century, but was the way they conducted business proper? To fully answer this question, we must look at the following: First understand how Andrew Carnegie and John D. Rockefeller changed the market of their industries. Second, look at the

Robber Baron

944 words - 4 pages accurately represents the differing viewpoints of the wealthy "captains of industry" and those of average working class Americans during the Second Industrial Revolution. This new class of wealthy industrialists truly believed in the all-American image of opportunity for the common man and social Darwinism, that is, survival of the fittest.What is the octopus grabbing with its tentacles?The tentacles represent the way that the trust controlled every

The Atlantic Slave Trade

1185 words - 5 pages and queens turned around to head back home, but the guards ran after them to say “you are going to”. Sadly, the kings and queens felt betrayed. During the transferring of the slaves the conditions on the ship were horrible. They crammed as much as seven hundred slaves at the bottom of the ship, which for some slaves was too much because they were on top of waste, organic matter, and feces. There are two ways for the captains to load their boats

JP Morgan

1051 words - 5 pages Edison’s endeavors but also helped finance or organize American Telephone & Telegraph, General Electric, National Tube along with many others. In America’s Industrial Expansion period, two categories of industry pioneers emerged; Robber Barons and Captains of Industry. Robber Barons were considered negative individuals who hoard their money and utilize bad businesses practices. On the other hand, Captains of Industry were viewed as “heroes” of

John D. Rockefeller a Business Man in the Oil Industry and an Industrialist

932 words - 4 pages “If you want to succeed you should strike out on new paths rather than travel the worn paths of accepted success.” These inspiring words highlight the principles that many of the late 1800s industrialists lived by. These industrialists of the late 1800s, known as the “Robber Barons” or “Captains of Industry”, were very influential in America, from their own industry to even the Capitol. One the most influential of them all was John D

19th Century's Industrialists: Robber Barons or Industrial Statesmen?

1197 words - 5 pages the captains of industry both “robber barons” and “industrial statements”, but that that these two labels, in fact, go hand-in-hand. As mentioned, it is accurate to allot the title of “robber baron” to the industrial leaders of the time in that they employed various, considerably unethical, methods in order to obtain untold riches. Such a notion is quite evident in William H. Vanderbilt’s own words, that, “[t]he railroads are not run for the

Safety in Aviation Organizations

1610 words - 7 pages the airline industry have created CRM programs, and extensively researched and tested new and innovative ways to incorporate CRM with cockpit automation. How Crew Resource Management Improves Safety in Aviation Organizations Through the years, as aircraft have become more complex, and numerous threats to aviation safety have been identified, a culture of unwavering professionalism and safety consciousness have become engrained into the

Similar Essays

Captains Of Industry Essay

909 words - 4 pages Captains of Industry PaperPost-Civil War (Reconstruction Era) laid the groundwork for what the United States economy is today. The United States switched from an agricultural society to a more urban society. With the invention of steel beams to build with, it provided the opportunity to create larger buildings on less land thus creating more opportunities for people to live in urban areas. The industrial revolution in America shifted the focus

Robber Barons Or Captains Of Industry Dbq

572 words - 2 pages suffer in consequences..." When these laborers revolted in response, they were defeated by military force. Labor unions were therefore futile for some time.While most capitalists of the 19th century would consider themselves to be captains of industry, a very small number of their workers would agree. Most workers of the time period would most likely claim that their bosses tore away their unions and squeezed any excess profits that workers did

Dbq On Captains Of Industry During American Industrial Revolution

885 words - 4 pages dominated by 'captains of industry.' 'New and improved' was the name of the game during the time of the Industrial Revolution. New inventions like Alexander Graham Bell's telephone in 1876 or Thomas Edison's more practical light bulb in 1879, improved the lifestyles of many Americans. Other inventions including the Pullman Palace cars, efficient air brakes and most importantly, the Bessemer process, a much easier and more efficient way of

Andrew Carnegie, John Davison Rockefeller, And John Pierpont Morgan: Captains Of Industry

905 words - 4 pages the United States’ economy, but society as well. Andrew Carnegie, John Davison Rockefeller, and John Pierpont Morgan reflect the mammoth industrial age of America. Although some may argue these industrialists were “robber barons,” these men were, in reality, “captains of industry” utilizing modern business practices and technology which provided both cheap products and job opportunities for the public, as well as becoming large-scale