During the 19th century, two of America’s greatest businessmen affected the country’s economy, impacting the common worker. These two businessmen, Andrew Carnegie and John D. Rockefeller, gained financial control of industries through the use of monopolies. A monopoly can be defined as a single corporation's actions to control all of a certain product or industry. In order to gain an understanding of how Rockefeller and Carnegie affected the common worker, the class spent this week’s classes analyzing biographies and separating ourselves into small groups to take notes on certain aspects of the two business men.
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| Image of Rockefeller as an Octopus Crushing Other Industries |
Monopolistic leaders such as Rockefeller and Carnegie both negatively and positively impacted the common worker. As great businessmen, Carnegie and Rockefeller took over major industries such as oil and transportation. Due to their impressive abilities to compete with other corporations and thrive in the business world, many employees and corporations went out of business. In this way, Carnegie and Rockefeller negatively impacted the common worker, leaving many workers unemployed. Due to their huge amount of financial success, both Carnegie and Rockefeller were perceived as “robber-barons”. Robber-barons were corrupt or cruel leaders of the industrial growth that were infamous for bribery, hiring personal armies, and buying out rivals. People had controversial emotions towards robber-barons because they helped better the country’s economy, but unfairly eliminated competition.
Despite their reputations and financial success, both businessmen helped to advance the economy, promoting growth and contributing to society. Raised in poverty, Carnegie demonstrated how to gain success and rise from “rags to riches”. From his own experience, Carnegie had an understanding of life in poverty and treated workers with respect. Carnegie was a philanthropist and donated millions of dollars to advance education, establish public libraries, and promote world peace. Within the steel industry, Carnegie created a stronger steel for lower price than other steel companies in America, promoting the nation’s economy. Rockefeller, also a philanthropist, donated much of his money to charities and educational systems, assisting in the cure to yellow fever. As part of his philanthropic beliefs, he believed that his life should be composed of two stages: the accumulation of wealth and then the distribution of that wealth back to the community. In an interview with William Hoster, Rockefeller stated, “I believe the power to make money is a gift of God … to be developed and used to the best of our ability for the good of mankind. Having been endowed with the gift I possess, I believe it is my duty to make money and still more money and to use the money I make for the good of my fellow man according to the dictates of my conscience”. Rockefeller also helped the advancement of the economy, but was despised in society for his greedy attitude.Both Carnegie and Rockefeller, though envied for their wealth, significantly benefited the country’s economy through their business talents. Both with competitive attitudes, Carnegie and Rockefeller strongly believed in Social Darwinism, the idea that people needed to compete as much as possible in order to improve themselves. Though negatively perceived in society, both Carnegie and Rockefeller made drastic improvements that the 19th century may not have otherwise been able to achieve.
Although Carnegie and Rockefeller positively and negatively impacted the common worker, I believe that the majority of their actions benefitted the community. Most negative perceptions of the two businessmen were derived from envy rather than disdain. Instead of looking down upon these two men, we should consider the important choices and selfless acts that the men have made in order to benefit our country. Without these two businessmen, America’s economy may not be nearly as advanced or competitive as it is today.
Interview quote- John T. Flynn. God’s Gold, 1932, http://www.edline.net/files/_EfHIe_/5b6412732dc698573745a49013852ec4/Doug_Ernst-Inquiry_Lesson-Robber_or_Captain.pdf
Rockefeller Octopus- Udo J. Keppler, Puck, 1904, http://www.edline.net/files/_EfHIe_/5b6412732dc698573745a49013852ec4/Doug_Ernst-Inquiry_Lesson-Robber_or_Captain.pdf
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