Captains of Industry

After the time of the civil war and during the reconstruction, John D Rockefeller and Andrew Carnegie were two very important people to the American economy. As businessmen during this time it was very debatable whether these men were robber barons or captains of industry, and many had different opinions on the matter. A robber baron during this time period was considered to be someone who was an American capitalist who acquired a fortune in business by ruthless means, and who were corrupt businessmen competing to be the at the top in their business. On the other hand, a captain of industry was considered to be a business leader, who while making a  personal fortune, contributed greatly to the country and its economy in ways such as increasing productivity, expanding markets and providing jobs. For this unit we created our own essential question which was, were Carnegie and Rockefeller robber barons or captains of industry? To learn more about this topic and gather information to not only construct our essential question,but also answer it, we first watched a series of videos and as a class collaborated by taking notes on different topics in a Google Doc. We then read background summaries on Carnegie and Rockefeller, as well as looked at some primary sources and once again took notes.

Carnage and Rockefeller were captains of industry. Even though both men were not liked by everyone, because of their competitiveness with other companies, and their occasional use of illegal tactics and immoral business techniques, both men did give back greatly to our country and its economy. Rockefeller believed that it was his duty to give a portion of his earnings back to the community. In an interview he once stated, “”...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 is saying that the money he was making was in the benefit of others because those profits allowed him to give back to the community, however he knew that it is his business to try to make the most money, and be the top business. one example of a way in which he gave back to the community, other than providing oil and jobs through his company, was that he once donated $500 million to schools, science and medicine. this proves that while Rockefeller was trying to make the most money, he was putting all of his profits to good use, and they were benefiting others than himself.  Like Rockefeller, Carnegie had similar motives during business career. in his essay, wealth, Carnegie states, “...[it is the] matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community /the man”. Carnegie is saying that he believes it necessary for him to consider all surplus revenues as a way to give back to those who have helped him. Also, Carnegie used his excess wealth to provide for the wants of those who depended on him.

Both Carnegie and Rockefeller are captains of industry because they did many things to give back to others. Today many companies do the same thing, by giving back to society in many different ways. For example TOMS donates shoes to those in need, the sun glasses company, Panda, gives a free eye exam and prescription glasses for school-aged children, and even bigger companies such as Walmart donate millions of dollars worth of food each year to those in need. Overall, while both Carnegie and Rockefeller thought it was crucial to try and strive for being on the top , in order to be successful in the business world, they found it even more important that they use their success in way that would be beneficial to others and the community, just like many other companies do today.