Monday, November 16, 2015

Andrew Carnegie: Biography, Net Worth, Quotes, Charity, Education, Invention (2002) - YouTube

Andrew Carnegie: Biography, Net Worth, Quotes, Charity, Education, Invention (2002) - YouTube

self made men that we can learn from

Andrew Carnegie (/kɑrˈneɪɡi/ kar-nay-gee, but commonly /ˈkɑrnɨɡi/ kar-nə-gee or /kɑrˈnɛɡi/ kar-neg-ee;[1] November 25, 1835 – August 11, 1919) was a Scottish-American industrialist who led the enormous expansion of the American steel industry in the late 19th century. He built a leadership role as a philanthropist for the United States and the British Empire. During the last 18 years of his life, he gave away to charities, foundations, and universities about $350 million[2] (in 2015, $13.7 billion) – almost 90 percent of his fortune. His 1889 article proclaiming "The Gospel of Wealth" called on the rich to use their wealth to improve society, and it stimulated a wave of philanthropy.

Carnegie argued that surplus wealth is put to best use (i.e. produces the greatest net benefit to society) when it is administered carefully by the wealthy. Carnegie also argues against wasteful use of capital in the form of extravagance, irresponsible spending, or self-indulgence, instead promoting the administration of said capital over the course of one's lifetime toward the cause of reducing the stratification between the rich and poor. As a result, the wealthy should administer their riches responsibly and not in a way that encourages "the slothful, the drunken, the unworthy".