Captians of Inustry Who Were They

Who were the “Captains of Industry” and how did they play a major role in the economic development of the United States? A “Captain of Industry” is defined as a business leader that benefits the nation in a positive way. This includes increasing the availability of goods, creating more and new jobs, and donating money to benefit the well being of the people. Some of them men that were considered to be Captains of Industry” were men like J.P. Morgan, Andrew Carnegie, John D. Rockefeller.

J.P. Morgan was a banker and a American Financier, who at the turn of the century, was one of the wealthiest men in America. J. P. Morgan backed the Edison Electric Illuminating Company in 1822 which began the great electric utility industry. Morgan had good links with London financial world and was able to arrange the capital for growing industrial corporations in the United States with money from British bankers. In 1891 Morgan arranged the merger of Edison General Electric and Thompson- Houson Electric Company to form General Electric, which then became the country’s main electrical- equipment manufacturing company. After financing the creation of the Federal Steel Company he joined