Andrew Carnegie CAPTAIN of Industry

Andrew Carnegie was one of the men to build America. His huge steel company led him to be one of the greatest and richest businessmen in the country. He started out in a poor family and learned from the beginning how to work hard and make money. He formed a monopoly by buying up other steel company's and forming the biggest, Carnegie Steel.

Why Carnegie was a Captain of Industry

1. Carnegie used vertical integration by controlling all of the steps along the way to make steel. This meant he did not have to pay anyone else to give him the materials he needed which was a very smart move. He was able to constantly lower prices and production costs

2. Even though Carnegie did make a lot of money from his company he created a Gospel of Wealth to decide in which ways to use his money. The Gospel of Wealth stated these two things, he should use his money to help the poor and improve society. Some places that Carnegie donated his money to was Princeton University, Carnegie Institution, and TIAA. In total he gave 350,695,653 to different organizations.

3. Andrew Carnegie also made sure that he owned many mills and facilities so he had exposure to many different places around the country. By having mills all around the country he was the main supplier of steel and didn't have to worry about other company's.

How magnates from the Gilded Age affect us today

1. Steel is now the main material that many of the buildings in our cities are made of. Without Carnegie's steel we would not have as many or as strong buildings as we have today.

2. Railroads are now a major way of transportation for many people. The start of railroads was in the Gilded age and now helps tons of people around the world.

3. In the Gilded age there were many magnates that built monopoly's and became very big. Today we have many monopoly's and big businesses that started with business men from the Gilded age.

Credits:

Created with images by tsaiproject - "Alexandra Bridge" • skeeze - "vintage andrew carnegie man" • MichaelGaida - "architecture industry factory building" • dandeluca - "bethlehem-steel-blast-furnace-2" • *_* - "Buildings" • Jack.Flanagan - "Two Roads"

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