The growth of America's industrialisation was considered the 'gilded age'.

Andrew Carnegie was a 'rags to riches' Scottish immigrant who became a major figure in American business. Originally involved in the organisation of the railroads and the supervision of telegraph communications; he used his profits to expand into oil and telegraph companies. He incorporated production processes which had been utilised in England industry, into America’s. The expansion of his steel business made a key contribution to the building of railroads, buildings and bridges. Carnegie ensured that the latest technology was used in his industries. After retirement, his philanthropy contributed to social welfare through his donations into libraries, schools and church buildings. 

J. P. Morgan made his fortune during the Civil War buying and selling defective munitions. His name was dominant within the field of investment banking. Renowned for his shrewd business sense, his fortune was built on the accumulation of other companies, which he amalgamated into huge corporations. He pushed out competitors with his financial and managerial abilities and made a fortune on the stock market. Morgan was at the helm of industry investment using government grants and subsidies to expand railroads. His company mergers encompassed Carnegie's holdings in steel and iron. The resulting United States Steel Corporation was the first holding company with capital valued at $1.4 billion dollars. Furthermore, he invested in the Edison Electric Illuminating Company. His entrepreneurial skills contributed to the emergence of the electric utility industry.

As key figures, Rockefeller, Carnegie and Morgan, were supported by the political conditions at the time. The Republican Party dominated politics from 1877-1893 when industrialisation peaked. Their conservative ideology was influenced by Social Darwinism – a ‘natural’ justification for un-bridled capitalism. The belief was that the ‘survival of the fittest’ had manifested itself within society in the form of wealth individuals. Republicans prided themselves in preserving business interests and the promotion of individualism, a ‘laissez-faire’ approach. They believed in a non-interventionist style regarding business interests and social problems. Karl Marx had described this type of capitalist state as ‘pretending neutrality to maintain order, but serving the interests of the rich’. Additionally, as the majority of the Supreme Court and the Senate were wealthy upper class, it can be argued that the republican politicians had their own self-interests at heart. For example, the Sherman Act interpretation (U.S. v E.C. Knight & Co.) was altered to allow trade monopoly to be exempt from Congress regulations. The 14th Amendment to the Constitution which was concerned with civil and political rights was also re-interpreted in favour of corporate business. Philip Jenkins proposed that,

…the amendment gave virtually no protection to blacks but bestowed

              the full rights of ‘persons’ on corporations in such away that government

                    Regulation of business activities was viewed as an infringement of

                    corporate civil rights.

This partnership between government officials and businessmen was often based on financial gain. Perks such as railroad passes and stock certificates were often exchanged for favourable legislation and government grants. Fraud and corruption were rife. Millionaire businessmen often financed political campaigns. This ensured the strength and success of business monopolies whose commercial dealings remained uncontested.

By examining the pre-requisites for industrial advance, it can be established that America was abundant in natural resources. Without the raw materials, America would have had to import coal, oil and timber. Within 40 years, coal production rose by 3000%, and anthracite production reached 57 million tons in 1900. Thus, the natural resources provided a strong foundation for industrialisation.  

Just as industrialisation is dependent on natural resources, it also requires labour for production. With an increase in America's population based at the heart of industrialisation in the north east, urban growth exceeded all expectations. Heavy industry attracted Americans from other states. Joined by immigrants from countries such Ireland, Germany and Croatia, they provided a ready supply of cheap labour for the intensive production of goods and services. According to Maldwyn A. Jones,

…from about 1870 onwards, the city became the controlling

influence in national life. Within its confines were to be

                                      found, the lineaments of the new industrialism…

Furthermore, women played a key role within the industrial workforce. Previously, married women were confined to domestic duties and rarely worked out with the home. However, in urban areas, women (and often children too) made up more than a quarter of the labour force.

The development of innovative technology in the 19th century was crucial to the progress of industrialisation. E.g. the invention of a refining process by Henry Bessemer in 1856 allowed steel to be produced quickly and in a less labour intensive way. In turn, the new steel production process was crucial in the development of the car industry, railroads and building construction. According to James A. Henretta et al, ‘without steel, the emerging automobile industry would not have gown, nor would a host of other industries’.

The growth of production and wider markets resulted in the new field of marketing. Advertising and mail order catalogues heralded a new age in retailing. For the first time, the marketing of goods and services reached a broad customer base. Sears, Roebuck and Company dominated the mail catalogue business. Agreeing with its popularity, Tindall & Shi proposed that ‘…the catalogue had become the single most widely read book in the nation except for the Bible’.

Having looked at the evidence, America’s industrialisation was indeed dominated by a few ‘captains of industry’. Rockefeller, Carnegie and Morgan were successful in combining their entrepreneurial skills, business acumen and innovative technology. This resulted in the rapid growth of America’s economy. The success of industrialisation relied on their investment, which, in turn, provided ordinary people with access to relatively new inventions such as electricity. Their achievements had the backing and support of government bodies, which enabled these powerful individuals to have a virtually free reign within the world of business and trade. Furthermore, the popularity of Social Darwinism amongst Republicans and wealthy businessmen intensified the belief that the government should not intervene in business affairs.

Nonetheless, without the availability of innovative technology, Rockefeller, Carnegie and Morgan would have been unable to expand heavy industries so quickly. In addition, these industries would not be possible without the abundance of America’s natural resources. The increased workforce provided by the influx of foreign immigrants was essential for industrial expansion.

Therefore, it can be argued that these ‘captains of industry’ were ‘robber barons’ who incorporated their entrepreneurial skills for selfish reasons, in order to create their own empire. Howard Zinn remarked how the majority of multi-millionaire businessmen involved in heavy industry were from middle and upper class families. With the exception of Carnegie, Rockefeller and Morgan already had wealth and government connections to expand their business interests.

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