Legacy of Andrew Carnegie Essay by RightRiters

Legacy of Andrew Carnegie
This paper is an examination of the legacy of Andrew Carnegie.
# 22965 | 2,615 words | 10 sources | APA | 2002 | US
Published on Mar 31, 2003 in History (Leaders) , Economics (Labor) , History (European - 19th century)

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This paper details the life of one of the most influential businessmen in U.S. history, Andrew Carnegie. Carnegie's legacy includes many philanthropic endowments which set the tone for his day, but he is also remembered as being one of the greatest robber barons of his day who controlled the giant steel industry. According to this author, Carnegie was an complex individual, who vocally supported unions in public, but in private did everything in his power to stem their power in his many different factories. It is ironic that, in the late 1800s, the first union in America was formed in one of Carnegie's plants and his actions would lead to one of the most violent strikes in history. The resolution of this strike was the reason the introduction of government regulations involving collective bargaining arrangements in labor disputes that still exist today. The author cites several examples where Carnegie's actions did not match his deeds and only served to fuel the fires of discontent among the union members. The author also discusses how despite the fact that many businessmen, like Carnegie supported the concept of monopolies, by the beginning of the twentieth century, things had begun to change.

According to this author, the unions were drawing attention to the worker's needs and rights and as a result, the government began to develop new regulations for businesses which lead to the eventual demise of monopolies. The author concludes with several comments about how Carnegie eventually came to publicly acknowledge that the labor unions and shared wealth were a better option for the country.

From the Paper:

"Carnegie had created his business empire upon the simple concept that a monopoly is, for the monopolist, the most efficient way to do business. Without competition, the owner can create the most efficient production and delivery system he can without wasting time and money negotiating and competing with others. This was the precept of Carnegie and those like him, the nation is better off with monopolies. But, the workers, the masses of thousands and millions who filled the factories and mined the ore, who broke their backs and their families for virtually no money, these were the people who brought the reality of the monopoly to the attention of the government. It was the union, and its ability to bring a large voice in the form of unification that could speak as loud as that of the one person at the head of the company. Unions, then, brought about an equalization."

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Legacy of Andrew Carnegie (2003, March 31) Retrieved August 08, 2022, from https://www.academon.com/essay/legacy-of-andrew-carnegie-22965/

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