Carnegie and the Foundations of Contemporary Entrepreneurial Philanthropy
CGAP's Prof. Charles Harvey recently presented at Newcastle University on the Foundations of Contemporary Entrepreneurial Philanthropy
Andrew Carnegie, author of The Gospel of Wealth, arguably the most influential statement on philanthropy of all time, is the original template for contemporary entrepreneurial philanthropy. Indeed, super-wealthy philanthropists like Bill Gates and Warren Buffet openly acknowledge the powerful impact Carnegie's writing and example has had upon them. This presentation brings together the historical and theoretical work of CGAP's entrepreneurial philanthropy research team to explore why, how and to what ends such prominent entrepreneurs seek to extend their reach in society beyond business. An original model of entrepreneurial philanthropy is applied to interpret and make sense of Carnegie's philanthropic journey. His story, far from reducing to one of making a $10 billion fortune (in today's money) and then giving it away, is revealed as more complex and more unified. His philanthropy raised his stock throughout the world, helping convert surplus funds into social networks, high social standing and intellectual currency, enabling him to engage in world making on a grand scale.