Thursday, September 20, 2012

Andrew Carnegie on value of money

"Man does not live by bread alone. I have known millionaires starving for lack of the nutriment which alone can sustain all that is human in man, and I know workmen, and many so-called poor men, who revel in luxuries beyond the power of those millionaires to reach. It is the mind that makes the body rich. There is no class so pitiably wretched as that which possesses money and nothing else. Money can only be the useful drudge of things immeasurably higher than itself. Exalted beyond this, as it sometimes is, it remains Caliban still and still plays the beast. My aspirations take a higher flight. Mine be it to have contributed to the enlightenment and the joys of the mind, to the things of the spirit, to all that tends to bring into the lives of the toilers of Pittsburgh sweetness and light. I hold this the noblest possible use of wealth." — Andrew Carnegie
Andrew Carnegie poured a great deal of his energies and resources into institutions which would support and further his dedication to free education for all and the notion of a meritocracy. By the age of 35, Carnegie decided to leave his business enterprises behind and concentrate on philanthropy and writing, rather than personal profit.  He sold the Carnegie Steel Company in 1901 to J.P Morgan for $480,000,000 and set up numerous institutions to fund educational projects around the world. Of these, the Carnegie Corporation of New York and the Carnegie Endowment for International Peace still operate today. 
"People who are unable to motivate themselves must be content with mediocrity, no matter how impressive their other talents." — Andrew Carnegie
Source:  "Carnegie Libraries". Ontario Ministry of Tourism and Culture.

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