Industrial Revolutionists Thomas Edison

During a season of industrial economical revolution there were unattackablely a(prenominal) commonwealth who were recognized as major contri only ifors to the clownishs evolve custodyt. Among these people were Andrew Carnegie, John D. Rockefeller and Thomas Edison. These three men possessed incredible intelligence, principal and face-to-face determination that shined brightly through stunned their extraordinary lives. Each mortal prove to be nonhing less than successful in his career by striving to surpass his competitors and by constantly trying to croak goals that were practic every last(predicate)y unattainable.In this essay I will coer all(prenominal) individuals life and accomplishments, identify how these men swear outed the nation fix its domestic economic flaws and explain why I think they were successful over achievers quite an than burglar barons. Andrew Carnegie was one of these individuals. Although he was born poor, he did not permit his financial dis readiness get in the way of success. He started out his career at the bottom of the social latter. In fact his prototypical job was working as a bobbin boy at a textile mill. He labored more than sixty hours a week receiving $1. 20 for each weeks work.As steep as this regulatems, he displayed his potential by becoming Pittsburghs smart telegraph reader. Unbelievably he read the telegraph by version the sounds of the keys by ear. After decoding many of the citys affair leaders messages, Carnegie developed an insiders view of their op agetions. Finally, in 1852 a superintendent of the Pennsylvania Railroad, Tom Scott, hired Carnegie as his secretary and soulfulnessal telegrapher. He worked as the railroads telegrapher for seven old age until Scott was promoted to vice president of the company. This enabled Carnegie to be promoted to Scotts former position.Now that he had the ability to stretch his legs he showed just how valuable of an employee he was. He did this by doubling the companys road mileage and manifold its traffic. Not too long aft(prenominal), his annual income rose to almost $60,000 correct though Carnegie had already embodied the rags to riches dream he was not satisfied. In the 1870s he decided to build a poise mill. He furnished it with nothing exclusively state of the art mark producing technology. He named it the J. Edgar Thompson Mill. With the combination of his management knowledge and intuition he wise(p) how to produce steel practically more cheaply than his competitors.He did this by salary cutbacks and by reservation sure no materials were wasted. Watch the cost, and the net income will take care of themselves. This was his motto and what he firmly believed in. Because Carnegie could see the big picture, he began vertical integration ( coverling all aspects of manufacturing). This gave him the ability to control every thing from the extracting of raw materials to the selling of the finished product. Basically, Carneg ie had built a monopoly (exclusive control over the entire steel commodity). By now Carnegie had help in running his company.Along with his line of reasoning associates, he developed a partnership with Henry Clay Frick who eventually became the chairmen of Carnegie Steel. With Fricks leadership, profits constantly rose giving Carnegie more age to focus on his philanthropy. Carnegie tangle that fortunes corrupted their possessors, so he donated over three hundred one million million dollars to philanthropy projects This funding helped establish lay outations and proved to be beneficial to universities, libraries as well as his popularity.About ten years later, the aged Andrew Carnegie hold to sell Carnegie Steel Company to J. Pierpont Morgan. It was agreed that Morgan would buy the company for tail fin hundred million dollars. Once the transaction was complete, United States Steel was born. Carnegie proved himself to be a self made man of success who started at the bottom and t rudged his way to the top. With his amazing intuition and decision making ability he built an empire that made a notch in American history and helped bring about the industrial revolution. John D. Rockefeller, the fracture of measuring rod oil color Company, as well as played a role in the industrial revolution. He too longed for wealth and prosperity.He went about this by making many little decisions rather than huge ones. He did this by adjusting every single aspect of his oil company until it was a alright tuned money making machine. He stressed the importance of providing a time-tested product and used the latest techniques in ensuring the quality of his products. Like Carnegie, his uncouth business techniques along with his extraordinary intuition in the understanding of the sedulousness provided for a complete monopoly over the industry. He displayed his power by price his products below cost.This caused his competitors and merchants that refused to sell his products t o go under financially. By 1879, Rockefeller owned cardinal percent of the nations oil refining capacity. Unlike Carnegie, Rockefeller devised a plan to combine all of the competing companies into one giant system. He did this by persuading stockholders of forty companies to substitution their stock for certificates of trust. He formed a board of trustees to run all of the companies. This proved to be a remarkable idea indeed because in spite of appearance three years the Standard Oil Trust had cut the second of refineries in half.This resulted in a rapid growth of Standard Oil and its spread to several other continents. Because other fields of manufacturing began to catch on to Rockefellers tactics, monopolistic control began to rise in different areas of the country. This provoke the public to ask for an investigation of trusts and their operations. In 1890, Senator John Sherman led telling into passing the Sherman Anti-Trust Act which outlawed trusts and contracts or combi nations in restraint of trade. It also established fines and jail times as penalties.Because the government vaguely outlined trust and restraint of trade few were prosecuted. When Rockefeller and Standard Oil were in the long run challenged in 1892, he simply transformed his nine trustees into the board of directors of Standard Oil. This helped the company elude prosecution and caused the continuation of growing profits. Like Carnegie, Rockefeller found the loophole in the economic system and took advantage of it. But he also displayed his keen sense of intuition and decision making by making decisions that helped his company adapt to the changing laws.He too showed that through hard work, determination and understanding of ones surroundings a soul could be successful. The third of these successful individuals is Thomas A. Edison. An inventor born in 1847, he believed in hard work and self-promotion. Like Carnegie and Rockefeller, Edison envisioned an incorporate industrial syst em founded. This though was being founded on the basis of technology. by means of out his life he had many purposes having the stock quotation newspaperman as his first.The profits he received from the sale of the printers patent gave him enough money to build his very own invention factory. After the invention of the telephone, Edison focused on electric turn on. During this time he invented the phonograph which gave him even more determination and self-motivation to develop a new filament for incandescent light bulbs. He finally better a process of generating electricity and found a filament that would twinkling dependably in a vacuum. Backed by J. P. Morgan in 1882, the Edison light up Company opened a power plant that furnished light for eighty-five buildings.Even though Edison was prospering, he did have competitors stealing his ideas. atomic number 53 example would be George Westinghouse. Westinghouse developed a system that used change currents of electricity to prov ide cheap high voltage power. Of course Edison sued, but it cost two million dollars to defend his patents and relinquish control over his enterprises. Like Carnegie and Rockefeller, Edison merged with a competitor in 1892 to form customary Electric. Just four years after, GE agreed to exchange patents with Westinghouse in order to dominate the market.Edison continued to pump out invention after invention. By the time he was done, he had 1,903 patented inventions and had put unitedly an estate worth over six million dollars. Thomas Edison did not quite achieve the financial status Carnegie and Rockefeller did, but he did come out the same path and ended up with a fortune. His presence is placid felt every time someone turns the light on. That is definitely an estimable achievement. His inventions helped shape our nation and contributed greatly to the industrial revolution.Although Andrew Carnegie, John D. Rockefeller and Thomas Edison were considered robber barons or tycoons, t he big picture can be over looked. During their time many things such as industrialism and business techniques were evolving into a new era of technology and business. It is obvious that these three men were born with an incredible intuition for the industries they were in. Its not to say no one else of their time overlap this ability, but they were among the few who reached for the stars instead of a weekly pay check.These men put into perspective what pursuing the American dream is all about. It was their in-person determination and work ethic along with their keen intuition that enabled them to be successful. Many people feel as if it was their greed that lead them to command their chosen industry, causing other competitors to suffer. I think it hadnt much to do with greed at all. Like any successful person they set their goals beyond their limits. They did nothing more than try to accomplish as much as possible in their lifetime.Doing so they found flaws in the nations econom ic system and capitalized on them. If anything, this provided for the correction of these flaws and the betterment of the nations domestic business structure. Of course there were those at the bottom of the social chain that suffered, but that still lives on today. Andrew Carnegie, John D. Rockefeller and Thomas Edison not only contributed to our countrys industrialization and economic growth, but also proved that the American dream does exists and can be achieved if one puts forth enough of himself to stretch it.