Andrew Carnegie : an economic biography / Samuel Bostaph.

By:

Bostaph, Samuel [author.]

Material type: Text

TextSeries: Capitalist thought: studies in philosophy, politics, and economicsPublisher: Lanham : Lexington Books, [2015]Description: 1 online resource (xii, 125 pages)Content type:

text

Media type:

computer

Carrier type:

online resource

ISBN:

9780739189849
0739189840

Subject(s): Genre/Form:

Additional physical formats: Print version:: Andrew CarnegieDDC classification:

338.092 B 23

LOC classification:

CT275.C3

Online resources:

Click here to access online

Contents:

Entrepreneurial, entrepreneurship, and entrepreneurs -- Early life in Scotland -- Youth in Western Pennsylvania -- On the road to wealth -- A man of steel -- Labor relations -- Empire builder -- Philanthropist -- A summing up.

Summary: "This biography of Andrew Carnegie emphasizes the economic dimension of his career in industry. It examines his life as a dynamic innovator during the period when the steel industry rapidly expanded and the United States became a major industrial power. Carnegie rose from a poverty-stricken Scottish childhood to a position of international industrial leadership, philanthropy, and peace advocacy, by means of intelligence, entrepreneurship, ambition, tenacity, guile, and ruthless determination. It is shown that Carnegie excelled as an economic actor. His alertness to expected profit opportunities, and success in coping with the uncertainties of the marketplace, made him a major influence on the growth of many of the most important industries of late-nineteenth century United States and world economies. His contribution to the better coordination of the actions of both demanders and suppliers in those industries by managerial, technological, and institutional innovations is emphasized. It is also argued that those profit-seeking actions and innovations occurred in the context of political policies and social institutions that produced a tremendous mal-investment of resources. This mal-investment was a result of protective tariffs, the stimulus and waste of war, and government subsidization of the railroad industry. Carnegie's role in this massive diversion of resources from other uses to those from which he personally benefited is also emphasized. Lastly, Carnegie's actions in giving away the great personal fortune that he accumulated as he built his business empire are examined and their economic implications assessed."--Publisher's description.

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Includes bibliographical references (pages 119-120) and index.

Description based on print version record and CIP data provided by publisher; resource not viewed.

"This biography of Andrew Carnegie emphasizes the economic dimension of his career in industry. It examines his life as a dynamic innovator during the period when the steel industry rapidly expanded and the United States became a major industrial power. Carnegie rose from a poverty-stricken Scottish childhood to a position of international industrial leadership, philanthropy, and peace advocacy, by means of intelligence, entrepreneurship, ambition, tenacity, guile, and ruthless determination. It is shown that Carnegie excelled as an economic actor. His alertness to expected profit opportunities, and success in coping with the uncertainties of the marketplace, made him a major influence on the growth of many of the most important industries of late-nineteenth century United States and world economies. His contribution to the better coordination of the actions of both demanders and suppliers in those industries by managerial, technological, and institutional innovations is emphasized. It is also argued that those profit-seeking actions and innovations occurred in the context of political policies and social institutions that produced a tremendous mal-investment of resources. This mal-investment was a result of protective tariffs, the stimulus and waste of war, and government subsidization of the railroad industry. Carnegie's role in this massive diversion of resources from other uses to those from which he personally benefited is also emphasized. Lastly, Carnegie's actions in giving away the great personal fortune that he accumulated as he built his business empire are examined and their economic implications assessed."--Publisher's description.

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