Document A cont. Andrew Carnegie Steel INFO METHODS POSITIVES NEGATIVES Immigrant from Scotland MONOPOLY Steel allowed new industries Paid workers low – controlled much of the to develop and grow, helped wages Worked his way up from steel industry and was with the growth of cities and having almost nothing therefore able to set transportation Created company through a variety of work higher prices towns where many of experiences Provided jobs his workers lived – VERTICAL towns were not INTEGRATION his Says he made the best and lots of – companies controlled cheapest product pollution all the steps in the production process, Wrote Gospel of Wealth; he Homestead Strike: allowing him to cut said rich ought to use their when workers went on costs money to improve society strike, he ordered his manager to have Built the largest and Set up cultural, educational security guards shoot most modern steel mill and scientific institutions the strikers to keep in the world them out of the the law of Gave money to create factories so “And while competition may be sometimes thousands of public libraries, replacements could Expanded his business hard for the individual, it is best Carnegie Hall (concerts), work during periods of Carnegie Mellon University for the race, because it decline, which meant ensures the survival of the he was able to do so fittest in every Gave away 90% of his department”. cheaply fortune
Document A cont. Andrew Carnegie Steel INFO METHODS POSITIVES NEGATIVES Immigrant from Scotland Worked his way up from having almost nothing through a variety of work experiences “And while the law of competition may be sometimes hard for the individual, it is best for the race, because it ensures the survival of the fittest in every department”. MONOPOLY – controlled much of the steel industry and was therefore able to set higher prices VERTICAL INTEGRATION – his companies controlled all the steps in the production process, allowing him to cut costs Built the largest and most modern steel mill in the world Expanded his business during periods of decline, which meant he was able to do so cheaply Steel allowed new industries to develop and grow, helped with the growth of cities and transportation Provided jobs Says he made the best and cheapest product Wrote Gospel of Wealth; he said rich ought to use their money to improve society Set up cultural, educational and scientific institutions Gave money to create thousands of public libraries, Carnegie Hall (concerts), Carnegie Mellon University Gave away 90% of his fortune Paid workers low wages Created company towns where many of his workers lived – towns were not lots of pollution Homestead Strike: when workers went on strike, he ordered his manager to have security guards shoot the strikers to keep them out of the factories so replacements could work