Question

Select all of the following that describes Andrew Carnegie. Select all that apply.

Answer 1

Answer:

He donated large amounts of money to charity. He controlled a large share of the steel industry.

Explanation:

Andrew Carnegie used the latest inventions for steel production at the steel company he created, whose plant was built in Pennsylvania near the junction of several railways. He was the first to start manufacturing large steel structures. Carnegie was the first to use the vertical integration method in his company: he simultaneously owned mines in Minnesota where iron ore was mined, steamers on the Great Lakes for its transportation, coal mines and furnaces for coke production, railways for transporting coke and ore to Pennsylvania and steel mill located there. By 1900, Carnegie's company was producing more steel than the whole of Great Britain and he controlled almost the whole US steel industry.

After retiring, Carnegie took up charity work. He developed a theory according to which a person should devote the first part of his life to earning and accumulating money, and the second - to the distribution of money. Andrew Carnegie's main area of charitable investment was libraries. Carnegie also invested in the construction of concert halls, in the creation of scientific and educational centers, in support of students and teachers.