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Andrew Carnegie traveled to England where he viewed Henry Bessemer's expedited steel production process in action. He returned to the United States and incorporated the Bessemer Process into his factories.
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Carnegie demonstrated his mastery of the horizontal integration concept by buying out his competitors' companies, as exhibited with this event.
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In Forum Magazine, Andrew Carnegie had an article published. It defended the workers' right to unionize and celebrates open capitalism and democracy.
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Carnegie's book implored the fabulously wealthy to donate their capital to philanthropic ventures as a way to "repay" society for their gains and successes.
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Following an economic downturn that lowered his employees' wages, a union at Carnegie's Homestead Mill struck. Henry Frick was trusted to dismantle the effort but his harsh tactics and cruelty in doing so befouled Carnegie's name.
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Andrew Carnegie used the concept of vertical integration, owning all steps in a good's production process, with ruthless efficacy and soon Carnegie Steel dominated the market.
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The US captured the Philippines from Spain in the Spanish-American War (though later compensating the nation $20 million). Carnegie viewed this as an imperial shift in US policy and strongly disliked it, offering up $20 million himself to buy the nation's independence. The US would not allow it.
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Investment Banker JP Morgan purchased Andrew Carnegie's interests in Carnegie Steel for a whopping $480 million, approximately 50% of which went directly into Carnegie's pocket for use as fuel for his philanthropic ventures.
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Carnegie established his largest charitable organization and endowed it with $125 million for use to further educational facilities in New York.
