"While the law [of competition] may be sometimes hard for the individual, it is best for the race, because it insures the survival of the fittest in every department. We accept and welcome, therefore, as conditions to which we must accommodate ourselves, great inequality of environment, the concentration of business, industrial and commercial, in the hands of the few, and the law of competition between these, as being not only beneficial, but essential for the future progress of the race." - Andrew Carnegie
A lot of ink has been spilled covering the lives of history's most influential figures, but how much of the forest is lost for the trees? In Charles River Editors' American Legends series, listeners can get caught up to speed on the lives of America's most important men and women in the time it takes to finish a commute, while learning interesting facts long forgotten or never known.
The Gilded Age and the dawn of the 20th century are often remembered as an era full of monopolies, trusts, and economic giants in heavy industries like oil and steel. Men like John Rockefeller built empires and financiers like J.P. Morgan merged and consolidated them. The era also made names like Astor, Cooke, and Vanderbilt instantly recognizable across the globe. Over time, the unfathomable wealth generated by the businesses made the individuals on top incredibly rich, and that in turn led to immense criticism and an infamous epithet used to rail against them: robber barons.
Dozens of these men would be pilloried as "robber barons", but few of them were as wealthy or influential as Andrew Carnegie, who built America's foremost steel empire. Ironically, Carnegie epitomized the American Dream.
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did not talk much about his rise in business