Andrew Carnegie began the steel industry in Pittsburgh and innovated in both the organization of steel companies and the uses of steel in engineering and manufacturing. He became one of the wealthiest men in history and pioneered the idea that American business could be philanthropic.
Andrew Carnegie immigrated to the United States with his humble Scottish family in 1848; they settled in Allegheny, Pennsylvania. As an adult, he realized success in many business ventures, including those in oil, Great Lakes trade, and railways. He invested well, with good timing and insight about the needs and direction of the country. Many of his projects revolutionized businesses. For example, he promoted the first viable sleeping cars for the railroads. Carnegie and his associates also became the first bridge-building firm to use iron rather than wood. In 1875, he started a Pennsylvania steel plant and began supplying track for the railroads. He merged with Henry Clay
Carnegie’s association with Frick would prove to have dire consequences for Carnegie’s reputation as a supporter of American workers. While Carnegie was in Europe on vacation, he asked Frick to manage a labor problem at his company. Although Frick knew that Carnegie was a defender of unions, Frick ordered a lockout, and a strike ensued. Frick enlisted the Pinkerton National Detective Agency, a notorious union-busting security company. Pinkerton agents engaged in a twelve-hour shootout against the striking workers, who finally retaliated. The state militia was required to intervene to reopen the mill.
Eventually, Carnegie organized
Carnegie’s legacy includes museums, schools, research facilities, funds for education, and institutions devoted to the study of peace and ethics. In 1901, he sold his steel company to J. P.
Carnegie, Andrew.“The Autobiography of Andrew Carnegie” and “The Gospel of Wealth.” New York: Signet, 2006. Nasaw, David. Andrew Carnegie. New York: Penguin Press, 2006. Standiford, Les. Meet You in Hell: Andrew Carnegie, Henry Clay Frick, and the Bitter Partnership That Transformed America. New York: Crown, 2005.
J. P. Morgan
Panic of 1907
John D. Rockefeller
United States Steel Corporation