The Great Idea

  • Colin Read
Part of the Great Minds in Finance book series (GMF)


Andrew Carnegie (November 25, 1835–August 11, 1919) was a Scottish immigrant who epitomized the American Dream during its Gilded Age. He oversaw an immense expansion of both the transportation and steel industries in the United States which allowed a new America to overtake his former homeland of Great Britain as the world’s largest economy. Carnegie achieved his remarkable success through the adoption of a new and distinctly American model of entrepreneurship and free markets. In turn, Andrew Carnegie went on to develop a philanthropic philosophy which he chronicled in his 1889 article that was later reprinted and commonly called The Gospel of Wealth.1


Capital Structure Corporate Finance Carnegie Institute Equity Holder Optimal Capital 
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  1. 1.
    Andrew Carnegie, The Gospel of Wealth and Other Timely Essays, New York: The Century Co., 1901.Google Scholar
  2. 2.
    F. Modigliani and M. Miller, “The Cost of Capital, Corporation Finance and the Theory of Investment,” American Economic Review, vol. 48, no. 3. 261–97.Google Scholar
  3. 5.
    F. Modigliani and M. Miller, “Corporate Income Taxes and the Cost of Capital: a Correction”, American Economic Review 53(3), 1963, pp. 433–43.Google Scholar

Copyright information

© Colin Read 2015

Authors and Affiliations

  • Colin Read
    • 1
  1. 1.SUNY CollegePlattsburghUSA

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