Overview of the life of Andrew Carnegie Essay

Andrew Carnegie and the draw near of man-sized BusinessHarold C. Livesay said in his book, Andrew Carnegie and the Rise of Big Business, that Carnegie was a army of paradoxes, this man of American steel-violent and peace-loving, ruthless and loyal, grabby and generous, boastful and diffident, vain and doubting, highly strung and shy. Andrew Carnegie was a quite sane in his younger years. He was born on November 25, 1835, and grew up in the rural town of Dunfermline, which was located in Scotland. His family was like many other families in Dunfermline. Dunfermlines livelihood depended on the hand weaving of linen, (pg 10) so when everything shifted to machine production, nearly 5,500 people lost their rail lines. This was known as the industrial Revolution. The Carnegies were wholeness of those families that were affected by the rise of machines, which replaced workers.His mom essay to help oneself the family income by cobbling and selling her work in a low-toned store sh e opened in front of their house, but nothing worked come forth, in spite of efforts to find a steady job by his dad and mom. mess started sailing to America because their old home no longer promised anything at all. (pg 14)Andrew Carnegie got his first job when he got to America. He worked for a local textile mill as a bobbin male child getting gainful $1.20 a week. The owner of this mill helped out because he gave preferential preaching to people from Scotland, which was his homeland. During this sequence, his father failed as a man of the world and gave up in defeat and drifted back to the loom. (pg 21) His next job was for the OReilly telegraph Company. He started discharge as a mere messenger boy but in eon became a full-time telegrapher. He was subsequent advanced to be the superintendent of papas railroad system. whole of these jobs and entrepreneurs support Livesays conclusion that Carnegie was ruthless in his career advances.Andrew Carnegie was invariably try ing to make money. Switching from job to job to get more money and later in his behavior he got into investments. He started off when Tom Scott persuaded him to buy ten shares of Adams Express Company stock for $600, lend him the money. (pg 53) He continued to make investments in antithetical companies, which most of the time resulted in profit. Early in his investment stage, he would borrow money from different people, and turn around and invest all of it. One world power agree that this method of investing shows that Carnegie was greedy, thus supportingLivesays remark. Carnegie was one of the major investors in many of the new disdaines and franchises, such as the Pennsylvania oil wells. Carnegies last financial adventure came in July 1872 (pg 79) when he took $6 million in bonds to a bank in Germany and tried to get them to buy the bonds. Carnegie then altered his vigor to a different field, the construction of what was to be known as Carnegie Steel.Created in November 1872 , Carnegie Steel construct steel rails by means of the new Bessemer method. He ascribe his success to his skill to be a good employer. He tough his workers right, which they returned with excellence in the workplace. This supports Livesays remark that Carnegie was loyal. Carnegie strived to make business deals and other alliances in the steel industry in interest of making his business grow. In 1872, a new furnace was constructed. Called the Lucy after Tom Carnegies wife (pg 100), which was pushed hard to increase production. This is when Carnegie observed that machine work cost a lot less than manual labor, and he acted accordingly.Later, Carnegie scraped his Bessemer converters for more modern equipment, despite the hundreds of thousands of dollars invested in them. (pg 129) By 1900, Carnegie Steel Company was making one fourth of all the steel in the US. Carnegie had been waiting a long time to sell, and finally, U.S. Steel Corporation was created to buy him out. In 1901 he sold out for $250 million in bonds and retired from business. In the years that followed, be donated the rest of his wealthiness to charities such as schools, libraries, churches, and other educational and recreational places. Carnegie had given 90% of his total riches to philanthropic groups by the time he died peacefully in his sleep on August 11, 1919. (pg 208) This shows Carnegies generosity of which Livesay mentioned.It is verbalise by Harold C. Livesays in his book, Andrew Carnegie and the Rise of Big Business, that Andrew Carnegie was a collection of paradoxes, this man of American steel-violent and peace-loving, ruthless and loyal, greedy and generous, boastful and diffident, vain and doubting, brash and shy. All of these things are true about Andrew Carnegie. From his hard life he and his family had in Scotland to his rise in life, from his low paying job at the textile factory to selling out his own confederacy for $250 million, andfinally the depression that began in 1893 which he responded to with a policy of pugnacious price cutting and aggressive attention to cost. (pg 163)SourceAndrew Carnegie and the Rise of Big Business