How Did Rockefeller Changed America's Economy

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However, Rockefeller drastically changed America's economy by bringing in lower oil prices and advancing the oil industry. Near the end of his life, he donated half of his fortune (over a half a billion dollars) to medical research and education. When history passes its final verdict on John D. Rockefeller," wrote Winston Churchill, "it may well be that his endowment of research will be recognized as a milestone" in human progress (Frost). Andrew Carnegie, the founder of the Carnegie Steel Company, created a multi-million dollar corporation that focused on steel production. Carnegie was also labeled as a robber baron because he cut the wages of his workers and didn't seem to care much for his workers' rights. Before his retirement, Carnegie had given away $350,695,653 ("Politics of the Gilded …show more content…

He also helped build three thousand libraries and schools and donated his fortune to artistic pursuits. Even though both of these men can be viewed as robber barons, I believe that most of their actions helped America to become mature and dominant. Without their industrial advances, I think America's industries would be underdeveloped and less powerful than other countries' industries. I believe that these wealthy individuals brought America up to par with the rest of the world by revolutionizing America's economy and society. As the nation became more industrialized, many immigrants migrated to America with the motivation of cheap land, higher wages, and more job opportunities. The population of the country increased by about 27 million people, from about 49 million in 1880 to 76 million in 1900 (White). Immigrants migrated to America from different parts of Europe: Italy, Greece, Poland, Hungary, Russia, Turkey, Lithuania, Romania and Asia: China and Japan. Since there were so many diverse groups of people, several religions and beliefs, such as Catholicism and Judaism, were introduced to other

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