Gospel Of Wealth

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Andrew Carnegie is considered as one of the wealthiest American entrepreneurs who lived in the 1800s. From a peasant immigrant, Carnegie managed to build massive steel conglomerate which multiplied his wealth substantially. He greatly campaigned for building wealth by rich business people and wise use of the wealth. According to him, he believed that wise use of wealth entails sharing it people and therefore ensuring community benefit. In his article, he strongly emphasized on the value of community responsibility by death for public uses”. Wealth at of leaving the upper class who managed to make themselves rich. This is evident by the statement “As to the second mode that He perceived this strategy as the best way of dealing with wealth inequality”(U.S. Survey Course 14). However, his advocacy was not received positively by other entrepreneurs of the time.
In his article, Carnegie assumed that there is no other way of helping the poor or rather filling the gap between the high class and the low class except community responsibility. The statement “It is well to remember that it requires the exercise of not less than that which acquired the wealth to use it to be beneficial to the community” confirms his idea (U.S. Survey Course 14). He believed that people in different social classes are likely to maintain their social status unless the self-entrepreneurs use their wealth objectively to change this situation (Financial Mentor).

The poor lacked any means of elevating their social status unless helped by the rich. Additionally, according to Carnegie, all wealth should be directed to public assistance. This industrialist strongly criticized wasteful utilization of property, irresponsible spending as well as being extravagance by the rich.
According to Carnegie, the economy is largely shaped by the self-made upper-class people. Carnegie postulates these world-making business people as the determinants of social, cultural as well as economic life of (Financial Mentor). Perse, by using their wealth accordingly, they can help eliminate wealth inequality in the society. Particularly, after accumulating wealth, these industrialists should consider community responsibility. They should participate in projects which benefit the community such as offering employment, contributing to special facilities such as children homes and others. By so doing, the economic capital will stand a chance of growing and expanding exponentially.
Works Cited
Financial Mentor. Andrew Carnegie “The Gospel Of Wealth.” Invest Smart, build wealth, retire early and live free. 2018. Available at: https://financialmentor.com/true-wealth/the-gospel-of-wealth/13127. Retrieved 25/02/2018.
U.S. Survey Course. The Gospel According to Andrew: Carnegie’s Hymn to Wealth. History Matters. 2017.