To answer this question, first you have to know what a monopoly is. A monopoly is when someone or one group of people have control of a certain commodity or service. When talking about Rockefeller, this was oil, and when talking about Carnegie, the commodity is steel.
| This image shows Rockefeller's Standard Oil Company as a powerful Octopus crushing his competitors. |
However, despite their public views and individual wealth, they continued to better the nation. They largely contributed to helping the economy in America. Carnegie helped the country become the country with the largest steel production in the world, surpassing Great Britain. Rockefeller started exporting his oil to other countries, also helping the American economy. In addition both men donated extremely large portions of their wealth to universities, charities and much more. Many of Rockefeller's donations went unnoticed by the public. Rockefeller once said in an interview with William Hoster, " I believe the power to make money is a gift of God ... to be developed and used to the best of our ability for the good of mankind. Having been endowed with the gift I possess, 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." I think it's safe to say Rockefeller stuck to his words when it has been said that he gave away 500 million of his 900 million dollar fortune. He gave a sum of money to Spelman College in Georgia which educated African- American women, founded the University of Chicago, helped provide relief after World War I, and like Carnegie put his money toward philanthropic institutions one of which helped cure yellow fever. Carnegie put his money toward libraries, church organs, benefits and funds for his former employees, and much more. The Carnegie Corporation of New York was created in 1911 in order to distribute his money for educational and research purposes. "Rags to riches" is a concept proven true by the one and only Carnegie who rose to being one of the wealthiest men in America from living his earlier years in poverty. The duo demonstrated to others how to become a successful business man and how to distribute one's fortune respectively even though being negatively perceived by the public.
In the end, I think that Rockefeller and Carnegie positively impacted the society and common workers, more than they negatively impacted them. I believe that the negative public opinion was out of envy and jealousy of their wealth and successful business tactics. Society should consider both the positive and negative actions of an individual before coming to a conclusion about them. This concept isn't as easy as it sounds, but it is always important to at least give it a try.
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