INCOMESCO

An Open Discussion around Food Security, Inequality, Poverty, International Development, Economics and Area of Interest

Philanthropy

Andrew Carnegie

Philanthropist Andrew_Carnegie
Philanthropist Andrew Carnegie

(November 25, 1835 – August 11, 1919)

Andrew Carnegie was born in Dunfermline, Scotland, and emigrated to the United States with his very poor parents in 1848. Carnegie started as a telegrapher and by the 1860s had investments in railroads, railroad sleeping cars, bridges and oil derricks. He built further wealth as a bond salesman raising money for American enterprise in Europe. He built Pittsburgh’s Carnegie Steel Company, which he sold to J.P. Morgan in 1901 for $480 million (the equivalent of approximately $13.6 billion in 2013), creating the U.S. Steel Corporation. Carnegie devoted the remainder of his life to large-scale philanthropy, with special emphasis on local libraries, world peace, education and scientific research. With the fortune he made from business, he built Carnegie Hall, and founded the Carnegie Corporation of New YorkCarnegie Endowment for International PeaceCarnegie Institution for Science,Carnegie Trust for the Universities of ScotlandCarnegie Hero FundCarnegie Mellon University and the Carnegie Museums of Pittsburgh, among others. His life has often been referred to as a true “rags to riches” story.

As the end of the Spanish-American War neared, the United States bought the Philippines from Spain for $20 million. To counter what he perceived as imperialism on the part of the United States, Carnegie personally offered $20 million to the Philippines so that the Filipino people could buy their independence from the United States.

As a philanthropist he had already given away $350,695,653 (approximately $4.8 billion, adjusted to 2010 figures) of his wealth to the society. At his death, his last $30,000,000 was given to foundations, charities, and to pensioners. (From Wikipedia)


BILLIONAIRE WANT TO DONATE THEIR WEALTH TO SOCIETY FOR

THE NAME AND FAME. THEY JUST EXPECT  THE RESPECT

IN LIEU OF SACRIFICE.


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Philanthropy

WAS CARNEGIE RIGHT ABOUT PHILANTHROPY?

Nemat Shafik, Deputy Managing Director of IMF, says-……..

Income inequality has widened. The past decades have seen unprecedented economic growth, which has raised living standards on average. But overall, the rich have done much better than the poor. This growing inequality breeds social resentment and generates political instability.

Chronic unemployment and pervasive underemployment have escalated. Five years after the crisis first erupted in the U.S. mortgage market, 200 million people worldwide still cannot find decent work, including 75 million young people who are at risk of becoming members of a lost generation.

Populations are growing unevenly. By 2050, the global economy must provide food and jobs for more than 9 billion people, 85 percent of whom will live in what are now developing countries.

Climate change is worsening. Biodiversity loss is enormous and global warming continues—carbon dioxide emissions are at deeply worrisome concentrations.

Philanthropy : A truly global agenda

…..The post-2015 global development agenda must go beyond our traditional understanding of development—that is, helping less developed countries catch up with those that are more advanced. The agenda must also address the various imbalances in the global economy, including spillover that ultimately affect the poor and vulnerable everywhere.

A new agenda needs to be truly global in scope, relevant to all in its goals, and realistic in how it assigns responsibilities—to advanced, emerging market, and developing economies. Safeguarding the well-being of future generations is a joint responsibility of all members of the international community, but we must also distribute fairly the burden that responsibility entails, given the enormous differences in capabilities among countries.

… To put it bluntly, we cannot afford to waste time on endless discussions among countries, only to arrive at the lowest common denominator. We need a bold yet realistic approach, one that allows us to move quickly from words to implementation…

QUOTE UNQUOTE

“Rather than being a human, be a humanitarian”
― Kowtham Kumar K

“The world order needs a major overhaul.”
― George SorosThe Age of Fallibility: Consequences of the War on Terror

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”If a free society cannot help the many who are poor, it cannot save the few who are rich”. – John F. Kennedy

.

”We live in an interdependent world.  Every time you cut off somebody else’s opportunities, you shrink your own horizons.” – Bill Clinton

”Yet the true friend of the people should see that they be not too poor, for extreme poverty lowers the character of the democracy; measures therefore should be taken which will give them lasting prosperity; and as this is equally the interest of all classes, the proceeds of the public revenues should be accumulated and distributed among its poor, if possible, in such quantities as may enable them to purchase a little farm, or, at any rate, make a beginning in trade or husbandry.” – Aristotle

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2 thoughts on “Philanthropy

  1. One of my favorite characters in history. Worth noting is JK Rowling the author of the Harry Potter books recently fell off the billionaire list. She’s donated so much money to charities that she’s not longer a billionaire and she just keeps going. So there are some modern examples, too.

    Liked by 2 people

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