[Book Review] "Think as Much About Giving as Earning... Dying Rich Is a Disgrace"

Andrew Carnegie "How to Get Rich"
Andrew Carnegie, the Richest Man in the World
Donated Over 90% of His Lifetime Wealth
A Chronicle of How He Accumulated and Shared His Fortune
Turning Poverty into Opportunity Brings Success
Money Can Buy Happiness, but Only for Others
Spending Should Benefit "Neighbors," Not "Oneself"

"He lived with integrity and left this world in poverty."

Andrew Carnegie (1835-1919), a Scottish immigrant, rose to become the richest man in the world in 1901 when he sold his Carnegie Steel Company to J.P. Morgan. At the same time, he is remembered as one of history's most renowned philanthropists. Driven by his conviction that "the wealthy should return their fortunes to society before they die," he donated more than 90% of his wealth over his lifetime. He established more than 2,500 Carnegie Libraries around the world, and both Carnegie Mellon University and Carnegie Hall in New York were founded by him. His philosophy that "how you distribute wealth is more important than how you accumulate it" became the foundation of modern philanthropy.

Andrew Carnegie. Photo by Getty Images

This book chronicles Carnegie's journey from accumulating wealth to giving it away. He was born in Dunfermline, Scotland, where his father ran a weaving factory. Although the family enjoyed relative stability with several employees, the Industrial Revolution quickly changed their fortunes. As the era of steam-powered mass production of linen began, traditional handcrafts rapidly declined. At about ten years old, Carnegie followed his parents to Pittsburgh, United States, where he worked as a "bobbin boy" in a textile mill. His weekly wage was only $1.20, but through this labor, he discovered the value of work. "It would not be an exaggeration to say that I worked like a slave, but because I had a clear reason and goal, I could accept it as noble work rather than mere drudgery."

Frequent job changes led to broader opportunities. At fourteen, while working as a telegraph messenger at the Pittsburgh telegraph office, he taught himself Morse code and became a telegraph operator, which then led to a position as a business division manager at the Pennsylvania Railroad Company. Thomas Scott, who was gaining fame at the railroad company, recognized Carnegie's potential and offered him the opportunity to buy ten shares of stock (worth $500). Carnegie took out a loan using his $800 house as collateral to invest, and received a monthly dividend of 1% ($5). The experience of earning income without labor made him realize the meaning of capital. "The experience of receiving money without working was new to both me and my friends. Earning profits from capital was a novel concept."

Today, society tends to view poverty negatively and idolizes so-called "golden spoons" (those born into wealth). However, Carnegie fully agreed with the belief of U.S. President James Garfield, who said, "The best inheritance a young man can receive is poverty." He believed that those who can turn poverty into opportunity can achieve wealth, and that those who start with nothing go the farthest. He emphasized that among history's great martyrs, inventors, politicians, poets, and businesspeople, few were children of millionaires or aristocrats, and that most good and great figures were born in humble cottages.

Carnegie divided people into four categories. The first are those who make securing the basics of life their goal and pray to be "neither poor nor excessively rich." The second are those who seek wealth by any means, with their only goal being to become "millionaires." The third are those who forgo wealth and happiness in favor of fame, such as artists, politicians, and judges who value honor over money. The fourth are those who willingly sacrifice themselves for the progress of humanity. These people are neither discouraged by poverty nor boastful about wealth; they strive only to fulfill their responsibilities with a clear conscience. Carnegie presented this fourth type as the ideal person.

He was also critical of progressives who denied the very structure of society. He believed that individualism, private property, accumulation of wealth, and the principle of competition had produced the best results among all systems humanity has experienced. In this respect, Carnegie was a thorough conservative. His stance was that "we must begin our discussion by acknowledging the current social system, which has advanced the interests of all humanity."

Carnegie argued that money can buy happiness, but not for oneself-for one's neighbors in need. He emphasized that support should be given in a way that "helps those who help themselves," especially when the local community is willing to maintain and develop its own facilities. He also warned that indiscriminate donations could be harmful and hinder personal growth. "First, establish or support universities and libraries. No amount of support for scholarship and knowledge is ever enough. Hospitals, medical research institutions, parks, cultural spaces, theaters, and sports facilities are also good choices. ... Dying rich is a disgrace."

Although he is known as a global tycoon and a symbol of philanthropy, his message resonates even more clearly in today's materialistic society. Thanks to its concise length and clear structure, this book is accessible to everyone.

How to Get Rich | Written by Andrew Carnegie | Page2Books | 204 pages | 17,000 won