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Andrew Carnegie: "Capt. Of Industry" Or "Robber Baron"? - Term Papers

Andrew Carnegie: "Capt. Of Industry" Or "Robber Baron"?


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As the Industrialization began, a few talented and foreseeing people took advantage of the development of new industries, technologies, and methods. Mass production was a way to produce goods in large quantities, and being able to sell them to the consumer for more affordable prices. The old owners of small businesses could no longer compete; their production output was too small for the demand, and their equipment and machinery was out of date. Andrew Carnegie was as well one of those people who saw a bigger future in one of the industries. It was steel. He was a "Captain of Industry" because he developed the complete production process of steel; the high demand allowed him to do that ...

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it. He had to go to Scotland for a couple of days and told his partner to stop the strike by any means. Whether it was a misunderstanding or not, but his partner called for armed forces. The former workers were imprisoned, injured or killed, and definitely fired. Though after the unsuccessful strike, Carnegie rehired many of those people upon his return.
Carnegie's biggest contribution was the development of the steel production process; he was the first to produce it on such a large scale. Even though he cut down on his workers' salaries to keep the consumer costs down, he always generously invested in a new technology opportunity. If he found out of a new improved machine or press, he wanted to get it right away to be the first one to start using it.
Among his most renown achievements, he did a lot of benefactor work. He wrote "The man of wealth [should] consider all surplus revenues which come to him simply as trust funds, which he called to administer… to produce the most ...

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"Andrew Carnegie: "Capt. Of Industry" Or "Robber Baron"?." Essayworld.com. February 13, 2005. Accessed April 19, 2024. http://www.essayworld.com/essays/Andrew-Carnegie-Capt-Industry-Robber-Baron/22191.
"Andrew Carnegie: "Capt. Of Industry" Or "Robber Baron"?." Essayworld.com. February 13, 2005. Accessed April 19, 2024. http://www.essayworld.com/essays/Andrew-Carnegie-Capt-Industry-Robber-Baron/22191.
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PAPER DETAILS
Added: 2/13/2005 02:14:20 PM
Category: Biographies
Type: Free Paper
Words: 536
Pages: 2

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