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February 22, 2004
Andrew Carnegie: Great Capitalist, Horrible Philosophy
In the history of American business, Andrew Carnegie stands out as one of the greatest of all time. Unfortunately, the same can not be said of his personal philosophy as can be seen in his writing, Wealth....
"By taxing estates heavily at death the state marks its condemnation of the selfish millionaire's unworthy life. It is desirable that nations should go much further in this direction....This policy would work powerfully to induce the rich man to attend to the administration of wealth during his life, which is the end that society should always have in view, as being that by far most fruitful for the people."
"we shall have an ideal state, in which the surplus wealth of the few will become, in the best sense, the property of the many, because administered for the common good, and this wealth, passing through the hands of the few, can be made a much more potent force for the elevation of our race than if it had been distributed in small sums to the people themselves."
"The highest life is probably to be reached, not by such imitation of the life of Christ as Count Tolstoi gives us, but, while animated by Christ's spirit, by recognizing the changed conditions of this age, and adopting modes of expressing this spirit suitable to the changed conditions under which we live; still laboring for the good of our fellows, which was the essence of his life and teaching, but laboring in a different manner."
"This, then, is held to be the duty of the man of Wealth: First, to set an example of modest, unostentatious living, shunning display of extravagence; to provide moderately for the legitimate wants of those dependent upon him; and after doing so to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the community--the man of wealth thus becoming the mere agent and trustee for his poorer brethren, bringing to their service his superior wisdom, experience, and ability to administer, doing for them better than they would or could do for themselves."
It is quite sad that such a great capitalist like Carnegie held such a repulsive and contradictory philosophy in regards to all of the wealth that he created. Ayn Rand demonstrated such a contradiction when she wrote:
If the good, the virtuous, the morally ideal is suffering and self-sacrifice--then by that standard, capitalism had to be damned as evil. Capitalism does not tell men to suffer, but to pursue enjoyment and achievement, here, on earth--capitalism does not tell men to serve and sacrifice, but to produce and profit--capitalism does not preach passivity, humility, resignation, but independence, self-confidence, self-reliance--and above all, capitalism does not permit anyone to except or demand, to give or to take the unearned. In all human relationships--private or public, spiritual or material, social or political or economic or moral--capitalism requires that men be guided by a principle which is the antithesis of altruism: the principle of justice.
If only Andrew Carnegie had read such words in his day....
Posted by Steve Giardina at February 22, 2004 9:51 PM
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