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Andrew Carnegie and the foundations of contemporary entrepreneurial philanthropy

Author

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  • Charles Harvey
  • Mairi Maclean
  • Jillian Gordon
  • Eleanor Shaw

Abstract

This paper focuses upon the relationship between the business and philanthropic endeavours of world-making entrepreneurs; asking why, how and to what ends these individuals seek to extend their reach in society beyond business. It presents an original model of entrepreneurial philanthropy which demonstrates how investment in philanthropic projects can yield positive returns in cultural, social and symbolic capital, which in turn may lead to growth in economic capital. The model is applied to interpret and make sense of the career of Andrew Carnegie, whose story, far from reducing to one of making a fortune then giving it away, is revealed as more complex and more unified. His philanthropy raised his stock within the field of power, helping convert surplus funds into social networks, high social standing and intellectual currency, enabling him to engage in world making on a grand scale.

Suggested Citation

  • Charles Harvey & Mairi Maclean & Jillian Gordon & Eleanor Shaw, 2011. "Andrew Carnegie and the foundations of contemporary entrepreneurial philanthropy," Business History, Taylor & Francis Journals, vol. 53(3), pages 425-450.
    • Handle: RePEc:taf:bushst:v:53:y:2011:i:3:p:425-450
    DOI: 10.1080/00076791.2011.565516
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    References listed on IDEAS

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    1. Subhabrata Bobby Banerjee, 2007. "Corporate Social Responsibility," Books, Edward Elgar Publishing, number 12532.
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    Cited by:

    1. Tarryn Kille & Retha Wiesner & Seung-Yong Lee & Melissa Johnson Morgan & Jane Summers & Daniel Davoodian, 2022. "Capital Factors Influencing Rural, Regional and Remote Women’s Entrepreneurship Development: An Australian Perspective," Sustainability, MDPI, vol. 14(24), pages 1-25, December.
    2. Arun Kumar, 2022. "Philanthropy and the Making of a New Moral Order: A History of Developing Community," Journal of Business Ethics, Springer, vol. 177(4), pages 729-741, May.
    3. Valeria Giacomin & Geoffrey Jones, 2022. "Drivers of Philanthropic Foundations in Emerging Markets: Family, Values and Spirituality," Journal of Business Ethics, Springer, vol. 180(1), pages 263-282, September.
    4. João R. Faria & Franklin G. Mixon, 2018. "Entrepreneurial Philanthropy and University Creation: An Economic Model," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 9(3), pages 1067-1086, September.
    5. Farzaneh Noghani, 2021. "''Your Cognition, My Territory'': Charismatic Leaders’ Management of Follower Cognitive Dissonance," Journal of Management Sciences, Geist Science, Iqra University, Faculty of Business Administration, vol. 8(1), pages 1-21, March.
    6. Amankwah-Amoah, Joseph & Lu, Yindfa, 2018. "Historical Evolution of Entrepreneurial Development in the Global South: The Case of Ghana, 1957-2010," MPRA Paper 88179, University Library of Munich, Germany.
    7. Dominic Chalmers, 2013. "Social innovation: An exploration of the barriers faced by innovating organizations in the social economy," Local Economy, London South Bank University, vol. 28(1), pages 17-34, February.
    8. Ken Aoo, 2021. "The Role of Civil Society Sector in the Development of Art-Driven Regional Social Innovation: The Case of Benesse Art Site Naoshima and Art Setouchi," Sustainability, MDPI, vol. 13(24), pages 1-14, December.
    9. Andrzej Janowski, 2020. "Philanthropy and the Contribution of Andrew Carnegie to Corporate Social Responsibility," Sustainability, MDPI, vol. 13(1), pages 1-26, December.
    10. Charles Harvey & Jillian Gordon & Mairi Maclean, 2021. "The Ethics of Entrepreneurial Philanthropy," Journal of Business Ethics, Springer, vol. 171(1), pages 33-49, June.

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