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Captains of Industry or Robber Barons?, When & Where?, download (4),…
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When & Where?
He started his business in 1863-1947, located in Detroit.
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Techniques
John D. Rockefeller built an oil monopoly by ruthlessly eliminating most of his competitors and it made him the richest man in the world.
Treatment of Workers
“He always treated his workers with fairness and generosity. He believed in paying his employees fairly for their hard work and often handed them bonuses on top of their regular salaries. Rockefeller was America's first billionaire” (Mvorganizing.com)
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Conclusion
John D. Rockefeller was considered a Captain of industry because he founded the standard oil company and became a philanthropist who donated money to charities, universities, and churches. He became the first billionaire in America and treated his workers with equal amounts of respect.
Treatment of Workers
McCormick treated his workers with great respect and even considered himself one of them working on the floor among them.
Techniques
He was credited as the single inventor of the mechanical reaper. Known as one of the several designing engineers who produced successful models in the 1830’s.
When and Where?
Cyrus McCormick came out with the mechanical reaper in 1834 but has created and had other ideas before that when he was 15 years old.
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Conclusion
Cyrus McCormick was an agricultural machinery worker. At age 22 he took over his fathers project and invented the mechanical reaper. He started doing projects like this starting at the age of 15. He treated his workers with full amounts of respect and even considered himself a worker and didn’t put himself above them unless needed. He is considers a Captains of Industry.
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“he exploited his workers, subjecting them to long hours, a dangerous workplace, and low pay. Many workers in his steel mills worked for 12 hours per day, seven days a week, and were cast aside when they were no longer physically able to meet the demands of the workplace.”
Some techniques that Carnegie used includes Vertical Integration which is a method when you combine into one organization all phases of manufacturing from mining to marketing. This makes supplies more reliable and improved efficiency. It controlled the quality of the product at all stages of production.
Andrew started his business in the early 1870's, located in the Pittsburgh area.
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“new mass-production methods, including large production plants, the use of standardized, interchangeable parts and, in 1913, the world's first moving assembly line for cars.” (History.com)
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He treated his workers well, he paid them well because it would create loyal workers and would benefit the middle class. “He gave $10,000,000 in profits to his employees. He raised the wage of his factory workers from $2.34 a day to $5.00 a day.
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