According to Carnegie, what were the benefits of capitalism over socialism?

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Carnegie saw the benefits of capitalism through the lens of how it can benefit select individuals. Carnegie was not interested in exploring how capitalism exists for a large mass of people who are exploited in order to benefit the owning class. Rather, Carnegie saw how capitalism created freedom for wealthy people or for people who were willing to exploit others to become wealthy.

This is the aspect of capitalism that many find so alluring: one can, in theory, be born poor and become rich. The concept is that under capitalism anyone can reach their fullest potentials and dreams; however, it is a hard truth that this dream is often achieved through exploitation. In order for someone to become wealthy and obtain surplus, they must force scarcity and poverty upon someone else. Carnegie would never have become part of the super-wealthy class if he hadn't built his empire off of paying people measly wages and stealing land from Indigenous peoples.

Andrew Carnegie, the great American...

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