The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan Invented the American Supereconomy - Book Report/Review Example

The Tycoons Book Review The book dwells on men who saw business gaps and those who came up with innovations that led to the growth of the American economy. The main story is concerned with how various American tycoons cooperated hand on hand to ensure growth in the American economy. The main character of the book is Cornelius Vanderbilt. This is because he is the person who saw the need to rebuild a fallen American economy after the civil war. He was the first innovator and Vanderbilt came up with shipping then rail industry. This makes him the primary character because he is the father of inventions, and his designs steered competition and expansion of other industries. John D Rockefeller is a character who contributed to the growth of the American economy. He was a young oilman from California who helped Cornelius Vanderbilt build his industry by establishing a deal with him about oil. He contributed to the American industry by his discovery of oil which was a crucial fuel to steer the growth of the American infrastructure. He is located in Chapter two also called episodes two in the book which talks more about the oil strike. Chapter three episode three gives rise to Andrew Carnegie of Scottish origin. He is the chief inventor of the American steel industry and built a bridge across the Mississippi River to link the East and the Western parts of America. His relationship with the principal character is that they were both innovators and businessmen and since he was building a steel bridge across river Mississippi, he was creating a platform for the excellence of the rail and road industry to favor the inventions by Cornelius Vanderbilt. Chapter four an episode for triggers a new rivalry and competition. It gives rise to Henry flick that played a significant role in creating a turning point for Andrew Carnegie. He was hired by Carnegie to help him achieve the goal of the steel industry and also making sure that the Rockefeller industry is at its best. Frick also created a significant turning point for the American labor industry after the strike which took place. Frick worked hand in hand with the major character that depended on the oil industry by Rockefeller. Chapter five episodes five introduces a banker who was able to steer American asset financing to the next level. J.P. Morgan introduced a banking system in New York, which had a primary goal of furthering technological advancements in America. His relation with the major character was that they worked hand in hand with Rockefeller standard oil that was an industry that the Cornelius Vanderbilt relied on. In chapter seven episodes seven, William McKinley takes control of the White House. His political domination allowed for legislations that are favorable to big businesses. This gave rise to Morgan and Carnegie creating the first billion dollar steel industry while Rockefeller took control of 90% of North American oil. McKinley brought favorable legislation for the industry of the major character and was his president. The most interesting part of the book lies in episode six where Morgan and Thomas Edison have to deal with the competition of new inventions. This brings a struggle of ownership of the electricity industry, and it results in Morgan buying Edison electricity and adopting AC power. The most uninteresting part of the book is at episode seven where only legislation takes place to favor the inventor industries. California was the hometown of the oil man John D Rockefeller. Mississippi River refers to the point where Carnegie was hired to build a bridge to link the East and the West. New York is the place where the banker, J.P. Morgan set up a bank. Scotland is the country where the parents of Carnegie immigrated from. White House is the place where McKinley used his powers to create legislations that favored the big industries. Johnstown is the place where the flood took place leaving people dead. Homestead steel plant is the place where workers strike took place. North America was a great oil harbor. Panama Canal is the place that opened new routes. Europe is where the U.S army sailed for World War 1 and built America. McKinley was influential, and powerful J.P. Morgan was focused and bright. Vanderbilt was determined and persistent. Carnegie was a fast thinker and determined. Rick was inhumane and exploitative. John D Rockefeller was focused and disciplined. Tom Scott was bright and full of strategy. Thomas Edison was innovative and future-oriented. Roosevelt was fast thinking and future oriented. Henry Ford was creative and unique. During the period of this book, America had undergone a civil war, and the economy was going down. Various innovators came up with promising ideas of infrastructural growth to help raise America to its original status. There was a struggle to revamp the country socially, economically and politically. Series of innovators were coming up with innovative ideas, the infrastructure was growing, the labor industry was growing and a change was being observed on the political platform. This is because of the different presidents that were being chosen to help push favorable legislations for the economic growth in America. Incredible means beyond belief or understanding. Spark means up. Iconic means are having character of an icon. Tycoon is a very rich businessman. Stature is high-level respect as a result of impressive development. Maverick is independent in thought. Rivalry is enmity. Panic is fear. Empire is a group of countries under a single authority. Dominant refers to something major. An inventor is someone who comes up with a new idea. legacy is gift of personal property by will. Adopt is to follow. A decade is a period of ten years. Monopoly is individual control of the market. An immigrant is one who relocates to another country. Legislation is rules and regulations. Rival is an enemy. Assassinate is to kill. Investment is laying money on an enterprise expecting profits. From a historical point of view, the subject of the book was paramount. This is because it tells the reader various innovators of the machines that are currently used and the owners of such technologies. It also empowers one on the fathers of American economic growth and the series of events that were happening in the American economy and the reasons why to date it is a superpower. The absence of an individual would have distort history because it leaves one with questions as who was responsible for an absolute innovation, and if this cannot be answered, history is changed. In the same way, history is distorted without an event since we cannot know what a particular individual did Reference Morris, Charles. The Tycoons: How Andrew Carnegie, John D. Rockefeller, Jay Gould, and J.P. Morgan Invented the American Super Economy. New York; Cambridge Publishers, 2006. Print Read More