Pros And Cons Of Andrew Carnegie

In the past, there have been many influential economic figures in the industrial business industry. Andrew Carnegie is one of the most famous of these figures but not just in a business scheme, but also in an economic and national scheme. Andrew Carnegie is a business man that caused a major controversial issue to arise; the topic of being labeled a Robber Baron or a Captain of Industry by the public. A Robber Baron is someone who has become wealthy through heartless and unethical business actions that will only benefit the individual. On the other hand, a Captain of Industry is a business leader who has become rich by accomplishing activities that will, overall, benefit the people of the community such as expanding a market or providing more jobs. There have been many debates on which one

For instance, Carnegie presented his library named Carnegie Library, he considers this “the best kind of philanthropy” (Ernsberger). By this he indicates the correct way a wealthy individual should live,is by giving back to the community. On the contrary, Richard argues this as negative affect to the company due to the loss of income. Richard believes that Carnegie shouldn’t have spent his money on helping the community instead, he should have continued to invest it on the steel industry. Overall, Richard views Carnegie as “little capitalist who urged presidents to do right things in Philippines, Panama and international diplomacy [but] had never done the right or moral thing as a businessman,” (Ernsberger). Richard displays this by including Carnegies expenses such as “$10 million to found the Carnegie Endowment for Peace” furthermore demonstrating that Carnegie did not spend his money on the business. However, Harold explains that Carnegies investments on developing the community is his way of repaying the community for their contribution to his