The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy PDF
Preview The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy
Praise for The Tycoons “Thorough and highly readable, Morris’ exemplary volume does a superb job. . . . Gracefully and eloquently clarifies these men’s frequently misunderstood roles in the shaping of modern U.S. commerce.” —The Providence Journal “Engaging and credible.” —The Washington Post Book World “Too often presented either as demigods or mythical beasts, [these men] are returned to their proper stature as mere people by Charles Morris. . . . He also paints rich, intriguing and at times, harrowing descriptions of the extraordinary age of innovation in which they starred—the late 19th century, when the U.S. came into its own.” —Barron’s “Morris writes with an uncommonly light touch, even on complex financial matters, and his brisk summary of the achievements and chicaneries of his tycoons makes for . . . a very rewarding evening.” —Commonweal “Morris may change your impression of these men—some for the better (Gould), some for the worse (Morgan)—as he tells their stories against the backdrop of America’s rise to power. . . . A forceful storyteller.” —Harvard Business School, Working Knowledge “Morris has a striking command of his material and his analysis is highlighted time and again by vivid sketches and thought-provoking comparisons with contemporary circumstances. Altogether, The Tycoons is a valuable contribution to the presentation and interpretation of one of the most vital, yet all too often romanticized periods of American economic growth.” —Kenneth Warren, fellow emeritus, Jesus College, Oxford University, and author of Big Steel “A fascinating revisionist interpretation.” —Publishers Weekly “An excellent picture of the growth of American business that made the United States an economic powerhouse.” —Library Journal THE TYCOONS Also by Charles R. Morris Money, Greed, and Risk American Catholic The AARP: America’s Most Powerful Lobby and the Clash of Generations Computer Wars (with Charles H. Ferguson) The Coming Global Boom Iron Destinies, Lost Opportunities: The Postwar Arms Race A Time of Passion: America, 1960–1980 The Cost of Good Intentions: New York City and the Liberal Experiment, 1960–1975 THE TYCOONS How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy CHARLES R. MORRIS AN OWL BOOK HENRY HOLT AND COMPANY • NEW YORK Owl Books Henry Holt and Company, LLC Publishers since 1866 175 Fifth Avenue New York, New York 10010 www.henryholt.com ® An Owl Book and ® are registered trademarks of Henry Holt and Company, LLC. Copyright © 2005 by Charles R. Morris All rights reserved. Distributed in Canada by H. B. Fenn and Company Ltd. Library of Congress Cataloging-in-Publication Data Morris, Charles R. The tycoons : how Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan invented the American supereconomy. p. cm. Includes bibliographical references and index. ISBN-13: 978-0-8050-8134-3 ISBN-10: 0-8050-8134-8 1. Industrial management—United States—History. 2. Industrialists— United States—Biography. 3. Rockefeller, John D. (John Davison), 1839–1937. 4. Carnegie, Andrew, 1835–1919. 5. Gould, Jay, 1836–1892. 6. Morgan, J. Pierpont (John Pierpont), 1837–1913. I. Title. HD70.U5M67 2005 338.092'273—dc22 2005041637 Henry Holt books are available for special promotions and premiums. For details contact: Director, Special Markets. Originally published in hardcover in 2005 by Times Books First Owl Books Edition 2006 Designed by Victoria Hartman Printed in the United States of America 1 3 5 7 9 10 8 6 4 2 To Leo, for freely sharing his extensive knowledge of railroad technology Contents Preface Acknowledgments 1 Prelude 2 “. . . glorious Yankee Doodle” 3 Bandit Capitalism 4 Wrenchings 5 Mega-Machine 6 The First Mass Consumer Society 7 Paper Tigers 8 The Age of Morgan 9 America Rules 10 The Wrong Lessons Appendix I: The Carnegie Company’s 1900 Earnings Appendix II: Standard Oil Earnings Notes Index
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