Instead of paying his workers a fair amount, he wasted money. For instance, he purchased a castle and renovated it for $10 million. In todays money that is around $237 million! Andrew Carnegie did not even live there, he made occasional visits.
Andrew Carnegie played dirty to own the best steel industry of his time. In September 1875 production cost $55 and the selling price $65. In November 1877 the production costs became $40 and selling $41. He was able to produce the steel at a much lower price and was rich so he could make the production and selling price practically the same. By lowering prices to the bare minimum he is knocking out the competition because costumers want steel for the cheapest price.
Andrew Carnegie is NOW a CAPTAIN OF INDRUSTRY
During his life he may have been a Robber Baron but today his actions in the gilded age have positively affected life today.
Thanks to his production of steel, buildings and bridges have been built unifying America, creating an economic boom making more jobs.
He also improved and supported the education systems in America. He founded Carnegie Institution which gave funding to universities and colleges for research. He also donated over 100 libraries to some of these universities helping advance America's education system.
Andrew Carnegie created Carnegie Hall in New York City. Carnegie hall is known as one of the most esteemed music venues in America. Over the years it has featured a variety of musical acts including the Beatles.