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Andrew Carnegie

Andrew Carnegie was a Scottish-American businessman and philanthropist who made his wealth through steel. His philanthropy was used to establish libraries across the United States.

647 Questions

How did the homestead strike change people's view of carnegie?

The Homestead Strike of 1892 significantly tarnished public perception of Andrew Carnegie, as many viewed him as a ruthless industrialist prioritizing profits over workers' rights. The violent clash between striking steelworkers and Pinkerton agents revealed the extremes to which Carnegie’s management would go to suppress labor unrest. This incident led to a growing sentiment that Carnegie was more concerned with maintaining control and minimizing costs than with the welfare of his employees, altering his image from a benevolent philanthropist to a symbol of corporate greed.

WhY were Rockefeller and Carnegie known as robber barons?

Rockefeller and Carnegie were known as robber barons because they amassed immense wealth and power through aggressive and often unethical business practices during the Gilded Age. They engaged in monopolistic tactics, such as price-fixing and undercutting competitors, to dominate their respective industries—oil for Rockefeller and steel for Carnegie. Their practices often exploited workers and stifled competition, leading to widespread criticism and the perception that they prioritized profit over social responsibility. This term reflects the public's view of their wealth acquisition as exploitative rather than entrepreneurial.

Why were John D Rockefeller Andrew Carnegie and JP Morgan called the Captian's of industry?

John D. Rockefeller, Andrew Carnegie, and J.P. Morgan were referred to as "Captains of Industry" because they played pivotal roles in shaping the American economy during the late 19th and early 20th centuries. They were instrumental in the growth of major industries—oil, steel, and finance, respectively—driving innovation, increasing productivity, and creating vast wealth. Their business practices, while often controversial, contributed to the expansion of the U.S. economy and established them as influential figures in American history. Their legacies include both significant economic development and the emergence of large corporate entities.

Why are Rockefeller and Carnegie known as robber barons?

John D. Rockefeller and Andrew Carnegie are often labeled as "robber barons" because they amassed vast fortunes in the late 19th century through aggressive and often unethical business practices. Rockefeller dominated the oil industry with Standard Oil, using tactics like price-cutting and secret deals to eliminate competition. Carnegie, in the steel industry, employed similar strategies and was known for harsh labor practices, including the infamous Homestead Strike. Their immense wealth and influence raised concerns about monopolistic practices and the exploitation of workers, leading to the "robber baron" label.

Which business strategy did carnegie use to eliminate competition?

Andrew Carnegie employed a strategy of vertical integration to eliminate competition in the steel industry. By controlling every aspect of production—from raw materials to transportation and distribution—he reduced costs and increased efficiency. Additionally, Carnegie utilized aggressive pricing tactics and strategic partnerships to undercut competitors, ultimately consolidating his dominance in the market. This approach not only diminished competition but also allowed him to scale operations rapidly.

What did carnegie have to do with US Imperialism?

Andrew Carnegie was a prominent industrialist and philanthropist whose views on U.S. imperialism were complex. While he initially supported American expansionism, particularly in the context of economic interests, he later became a vocal critic of imperialism, arguing that it contradicted American democratic ideals. Carnegie's involvement in imperialism is also reflected in his efforts to promote peace and his opposition to the annexation of territories like the Philippines, believing that imperialism undermined the nation's values. Ultimately, his legacy is intertwined with both the era's expansionist policies and the push for peace and international cooperation.

Why were businessmen like carnegie and rocquefelled able to become so wealthy and powerfuln?

Businessmen like Andrew Carnegie and John D. Rockefeller became incredibly wealthy and powerful due to their innovative approaches to industry and their ability to capitalize on emerging markets during the Industrial Revolution. They utilized vertical and horizontal integration to control production and distribution, significantly reducing costs and increasing profits. Additionally, favorable government policies, limited regulation, and a growing consumer market allowed them to expand their businesses rapidly, establishing monopolies in their respective industries. Their success also stemmed from strategic investments and the ability to adapt to changing economic conditions.

What did Andrew carnige do with his wealth?

Andrew Carnegie used his wealth primarily to promote education and peace. He established libraries, schools, and universities, including the Carnegie Institution for Science and Carnegie Mellon University. Additionally, he created foundations, such as the Carnegie Corporation, to support various philanthropic causes, including cultural and scientific advancements. Carnegie believed in the "Gospel of Wealth," advocating that the rich should use their fortunes for the greater good of society.

Who was Andrew Carnegie's cousin?

Andrew Carnegie's cousin was William Carnegie, who was also involved in the steel industry. William worked alongside Andrew in various business ventures, particularly in the early days of Carnegie's career. While Andrew became a prominent figure in American industry and philanthropy, William's contributions were more localized and less well-known. Their family connection highlights the close-knit relationships often found in immigrant families during that era.

How Andrew Carnegie treated workers and buseness competition?

Andrew Carnegie had a complex relationship with workers and business competition. He believed in the importance of efficiency and productivity, which often led to harsh labor conditions, including long hours and low wages, particularly in his steel mills. While he advocated for competition as a means to drive innovation and economic growth, he also employed aggressive tactics to eliminate rivals, such as forming the Carnegie Steel Company, which dominated the industry. Ultimately, his approach reflected a blend of philanthropy and a ruthless pursuit of profit.

Where did Andrew carnegie start his business?

Andrew Carnegie started his business in Pittsburgh, Pennsylvania. He began his entrepreneurial journey in the 1850s, initially investing in the railroad industry before moving into the steel industry. Carnegie founded the Carnegie Steel Company in the 1890s, which became one of the largest and most profitable steel companies in the world, significantly contributing to the industrial growth of the United States.

What happens to Carnegie steel sales?

Carnegie Steel, founded by Andrew Carnegie in the late 19th century, experienced significant growth in sales due to the booming demand for steel during the industrial revolution. The company's innovative production techniques and strategic acquisitions allowed it to dominate the steel market. However, by 1901, Carnegie Steel was sold to J.P. Morgan, who merged it into U.S. Steel, further consolidating its market position and expanding its sales reach. This acquisition marked the end of Carnegie Steel as an independent entity but solidified its legacy in the steel industry.

What are 5 bad things carnegie did?

Andrew Carnegie, while known for his philanthropic efforts, was also associated with several negative aspects. Firstly, he played a significant role in the harsh working conditions and labor disputes at his steel mills, notably the Homestead Strike of 1892, which resulted in violence and loss of life. Secondly, his monopolistic practices contributed to the exploitation of workers and the suppression of competition. Additionally, Carnegie's investments in industries like steel and railroads often prioritized profit over environmental and social considerations, leading to pollution and community displacement. Lastly, his portrayal of the "Gospel of Wealth" has been criticized for justifying vast inequalities and concentrating wealth in the hands of a few.

Why politicians like boss tweed similar to industrial magnates like Carnegie and Rockefeller?

Politicians like Boss Tweed and industrial magnates like Andrew Carnegie and John D. Rockefeller both wielded significant power and influence during the Gilded Age, albeit in different realms. They shared a common interest in accumulating wealth and maintaining control over their respective domains—political and economic. Both utilized their influence to manipulate systems to their advantage, with Tweed leveraging political corruption and patronage while Carnegie and Rockefeller employed monopolistic practices. Ultimately, they exemplified how personal ambition and the pursuit of power can shape societal structures, often at the expense of the public good.

How did carnegies early job with railroads greatly contribute to his success in the steel business?

Andrew Carnegie's early job with railroads provided him with valuable insights into the burgeoning transportation industry and the demand for steel. Working as a telegraph operator and later in various operational roles, he developed crucial connections and an understanding of efficient production methods. This experience enabled him to identify opportunities in the steel market, particularly for rail infrastructure, and laid the foundation for his future success in creating a steel empire. Ultimately, his railroad experience helped him leverage both technology and strategic partnerships to dominate the steel industry.

Who said Mr Carnegie I want to congratulate you for being the richest man in the world?

The phrase "Mr. Carnegie, I want to congratulate you for being the richest man in the world" was famously said by William Jennings Bryan, a prominent American orator and politician. This comment highlights Andrew Carnegie's immense wealth during the Gilded Age, a period characterized by rapid industrialization and economic growth in the United States. Bryan's remark underscores the significance of Carnegie's achievements in business and philanthropy.

What contributions did Andrew carnegie make to us history?

Andrew Carnegie was a pivotal figure in U.S. history, primarily known for his role in the steel industry, which was instrumental in the country's industrial growth during the late 19th century. He founded Carnegie Steel Company, which revolutionized steel production and made the material more accessible for infrastructure projects like railroads and bridges. Beyond his business success, Carnegie was a prominent philanthropist, donating vast sums to libraries, education, and cultural institutions, significantly influencing American society and promoting the idea of the "Gospel of Wealth." His legacy continues to impact views on capitalism and philanthropy today.

When did carnegie have his first child?

Andrew Carnegie had his first child, a daughter named Margaret, on September 30, 1867. She was born to Carnegie and his wife, Louise Whitfield. Margaret was their only child, and Carnegie was known to be very devoted to her throughout his life.

Do you agree with carnegie's defense of millionaire's?

Andrew Carnegie's defense of millionaires, particularly his belief in the "Gospel of Wealth," argues that the rich have a moral obligation to use their wealth for the greater good of society. While his perspective highlights the potential for philanthropy to address social issues, it also raises concerns about the concentration of wealth and power in the hands of a few. Ultimately, his argument can be seen as both a call for responsible stewardship of wealth and a justification for the existing economic inequalities. Balancing philanthropy with systemic change remains a complex challenge.

Why is Andrew Carnegie john D Rockefeller and Leland Stanford important men in us history?

Andrew Carnegie, John D. Rockefeller, and Leland Stanford are significant figures in U.S. history for their pivotal roles in the industrialization of the nation during the late 19th century. Carnegie revolutionized the steel industry, Rockefeller founded Standard Oil, which dominated the petroleum sector, and Stanford was instrumental in the development of the Central Pacific Railroad. Their business practices and innovations not only shaped their respective industries but also contributed to the rise of the American economy, leading to both economic growth and discussions about monopolies and labor rights. Collectively, they exemplified the era of American capitalism and philanthropy, influencing future generations of entrepreneurs and social reformers.

How did Andrew Carnegie give back to society?

Andrew Carnegie gave back to society primarily through philanthropy, advocating for the importance of giving back to the community. He donated vast amounts of his wealth to establish libraries, educational institutions, and cultural organizations, including Carnegie Hall in New York City and numerous public libraries across the United States. Carnegie also founded the Carnegie Corporation, which supports education and knowledge dissemination. His belief in the "Gospel of Wealth" emphasized that the rich have a moral obligation to contribute to the betterment of society.

How did carnegie become so powerful?

Andrew Carnegie became powerful primarily through his strategic investments in the steel industry during the late 19th century. He founded the Carnegie Steel Company, which utilized innovative production techniques and efficiencies, allowing him to dominate the market. Additionally, his ability to integrate vertically by controlling every aspect of steel production, from raw materials to transportation, significantly increased his profitability. Carnegie's keen business acumen, coupled with his commitment to philanthropy later in life, solidified his legacy as one of the most influential industrialists of his time.

How did Andrew Carnegie and John D Rockefeller deal with fierce competitions?

Andrew Carnegie and John D. Rockefeller employed different strategies to manage fierce competition in their respective industries. Carnegie utilized vertical integration, controlling every aspect of steel production to reduce costs and eliminate reliance on suppliers, while Rockefeller embraced horizontal integration, acquiring rival oil companies to establish a monopoly and dominate the market. Both tycoons also engaged in aggressive pricing strategies, undercutting competitors to drive them out of business. Ultimately, their approaches allowed them to consolidate power and influence in their fields, shaping the landscape of American industry.

What business practice contributed most to Andrew Carnegies ability to form a monopoly?

Andrew Carnegie's ability to form a monopoly was primarily attributed to his implementation of vertical integration. By controlling every aspect of the steel production process—from raw materials to transportation and distribution—Carnegie was able to reduce costs and improve efficiency. This strategy allowed him to dominate the steel market, undercut competitors, and ultimately establish a powerful monopoly in the industry. Additionally, his focus on innovation and technology further solidified his position as a leader in steel production.

What strategy did carnegie use to gain control of the steel?

Andrew Carnegie employed a strategy of vertical integration to gain control of the steel industry. By acquiring all aspects of production, from raw material sourcing to transportation and manufacturing, he was able to reduce costs and increase efficiency. Additionally, Carnegie focused on innovative production techniques and invested in new technologies, which allowed him to produce steel at lower prices than competitors. This combination of vertical integration and innovation ultimately positioned Carnegie Steel as a dominant force in the industry.