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Carnegie and Rockefeller: Captains of Industry

Autor:   •  February 7, 2019  •  774 Words (4 Pages)  •  55 Views

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competitor companies. Rockefeller’s company gave jobs to thousands of people and Cleveland’s wealth grew. He had over 100,000 employees, providing jobs to Americans. Through Standard Oil, Rockefeller improved the standard and quality of petroleum products, while reducing their price by as much as 80%. Under Rockefeller, oil prices could be as low as 5 cents per gallon of oil, making kerosene available to millions of American. He also gave access to a much safer and productive fossil fuel rather than having to disrupt the food chain, or having to risk life to mine for coal. Rockefeller retired from day-to-day business operations of Standard Oil in the mid-1890s. Inspired by Andrew Carnegie, Rockefeller donated more than half a billion dollars to various educational, religious and scientific causes. Rockefeller donated over $500 billion to various foundations and charities. He financed the foundation of the University of Chicago, the Rockefeller Institute for Medical Research (Rockefeller University), the Rockefeller Foundation, and the General Education Board.

Andrew Carnegie and John D. Rockefeller were both captains of industry who were ingenious and industrious leaders who transformed the American economy with their business skills as well as their philanthropy. Andrew Carnegie was able to revolutionize the steel industry which aided in industrializing America. He provided jobs for many people, and he donated most of his wealth to the well being of the people. John D Rockefeller was the guiding force behind Standard Oil, which became the most profitable refinery in the nation. He gave jobs to thousands of American’s, and he made oil affordable to millions of Americans. He too donated his wealth to the well being of the people. Andrew Carnegie and John D. Rockefeller were Captains of Industry because they transformed the American economy in a positive way with their business skills and their philanthropy.

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