12 Jun 2022

48

Impact of “Big Business” and the New Industrial Corporations

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Academic level: College

Paper type: Essay (Any Type)

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The United States of America is one of the highly developed nations around the globe. The country has demonstrated success in the creation of a massively industrialized economy in the post-civil war period. The growth of American prosperity was sparked by the quest for intercontinental rail network connections. American businesses were improved to serve the national and international market. Such enabling environment helped create giant corporate organization. Manifesting this holistic development were companies in the oil and steel sectors. American was radically transformed by the organized labor groups as well as the prevailing environmental conditions. American workforce showed profound workforce and industrial discipline during the successive recession. 

John D. Rockefeller was an American industrialist that is credited with making standard oil company that manifested American capitalism. Born to a harsh mother, He was humorless and frugal as well as committed members of the Baptist church. He served in the civil war after which became a devoted businessman. Working at the Cleveland with which he bought his first refinery for $72,000. He retired from Standard Oil in 1897; the company was worth a billion dollars by 1920 (Hamen, 2011). 

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A Scottish immigrant, Andrew Carnegie was a leading industrialist in the American steel industry and a renowned philanthropist. The family showed colossal interest in in education. Carnegie envisaged making silk dress for his mother inspired by his father’s work in the textile industry. Carnegie took an early retirement giving away most of his earning. He showed much love for education by associating with literary people. His interest in education $350 million which included $60 million for American educational libraries (Spring, 2011). 

Rockefeller and Carnegie are a perfect example of industrialists who have had a great impact on America. They have not only contributed immensely to the American economy but also to the American culture. Needy Americans have benefitted from the philanthropic activities initiated by the two industrialists. As people strive to live their American dream, Rockefeller and Carnegie are good role models. 

Reference 

Hamen, S. E. (2011).  John D. Rockefeller . ABDO. 

Spring, J. (2011).  The politics of American education . Routledge. 

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StudyBounty. (2023, September 16). Impact of “Big Business” and the New Industrial Corporations.
https://studybounty.com/impact-of-big-business-and-the-new-industrial-corporations-essay

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