Table of Contents PENGUINCLASSICS Title Page Copyright Page Introduction THE GOSPEL OF WEALTH THE BEST FIELDS FOR PHILANTHROPY THE ADVANTAGES OF POVERTY THE GOSPEL OF WEALTH II WEALTH AND ITS USES BUSINESS THE THREE-LEGGED STOOL PENGUIN CLASSICS THE “GOSPEL OF WEALTH” ESSAYS AND OTHER WRITINGS Born in Scotland on November 25, 1835, ANDREW CARNEGIE immigrated to the United States with his family as a child and ultimately became the embodiment of the American Dream. The son of an impoverished linen weaver, he took his first job at age thirteen in an Allegheny City cotton mill, then worked as a messenger boy, a telegraph operator, and for the Pennsylvania Railroad, before striking out in business for himself as an iron manufacturer and principal owner of the nation’s most successful steel mills in Pittsburgh, Pennsylvania. By 1901, when he sold Carnegie Steel to J. P. Morgan, he was arguably the richest man in the world. He spent the last two decades of his life giving away the vast fortune he had acquired, working for world peace, and establishing the Carnegie Corporation of New York, the Carnegie Endowment for International Peace, the Carnegie Foundation for the Advancement of Teaching, the Carnegie Trust for the Universities of Scotland, the Carnegie Hero Funds, and dozens of other philanthropic institutions that remain active to this day. DAVID NASAW is the author of the nationally bestselling biography The Chief: The Life of William Randolph Hearst, winner of the Bancroft Prize in History, the J. Anthony Lukas Book Prize, the Ambassador Book Award in Biography, and finalist for the National Book Critics Circle Award. He is currently the Arthur M. Schlesinger, Jr., Professor of History at the Center for the Humanities at the City University of New York Graduate Center. His new biography of Andrew Carnegie is published by the Penguin Press. He lives in New York City. PENGUIN BOOKS Published by the Penguin Group Penguin Group (USA) Inc., 375 Hudson Street, New York, New York 10014, U.S.A. Penguin Group (Canada), 90 Eglinton Avenue East, Suite 700, Toronto, Ontario, Canada M4P 2Y3 (a division of Pearson Penguin Canada Inc.) Penguin Books Ltd, 80 Strand, London WC2R 0RL, England Penguin Ireland, 25 St Stephen’s Green, Dublin 2, Ireland (a division of Penguin Books Ltd) Penguin Group (Australia), 250 Camberwell Road, Camberwell, Victoria 3124, Australia (a division of Pearson Australia Group Pty Ltd) Penguin Books India Pvt Ltd, 11 Community Centre, Panchsheel Park, New Delhi - 110 017, India Penguin Group (NZ), cnr Airborne and Rosedale Roads, Albany, Auckland 1310, New Zealand (a division of Pearson New Zealand Ltd) Penguin Books (South Africa) (Pty) Ltd, 24 Sturdee Avenue, Rosebank, Johannesburg 2196, South Africa Penguin Books Ltd, Registered Offices: 80 Strand, London WC2R 0RL, England This volume first published in Penguin Books 2006 Introduction and selection copyright © David Nasaw, 2006 All rights reserved eISBN : 978-1-101-09771-7 CIP data available The scanning, uploading and distribution of this book via the Internet or via any other means without the permission of the publisher is illegal and punishable by law. Please purchase only authorized electronic editions, and do not participate in or encourage electronic piracy of copyrighted materials. Your support of the author’s rights is appreciated. http://us.penguingroup.com