This biography of Andrew Carnegie emphasizes the economic dimension of his career in industry.
He resides in Champaign, Illinois..
He is emeritus professor of economics at the University of Dallas.
About the Author: Samuel Bostaph has written widely on historical figures from Plato to Ayn Rand.
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.
Carnegie\'s role in this massive diversion of resources from other uses to those from which he personally benefited is also emphasized.
This mal-investment was a result of protective tariffs, the stimulus and waste of war, and government subsidization of the railroad industry.
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.
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.
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.
It is shown that Carnegie excelled as an economic actor.
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 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.
This biography of Andrew Carnegie emphasizes the economic dimension of his career in industry
