Monday, December 10, 2012

LAD #21/Carnegie's Gospel of Wealth

Andrew Carnegie, was a very successful business man who made his profits from iron, steel and railroads. In Carnegie's Gospel of Wealth, Carnegie addresses the economic gap between the rich and the poor. Because of Industrialization, the gap had become even greater rather than the small differences in the previous years. Carnegie, no doubtfully believed that the wealthy, upper class need to be present in a growing society for the fact that they stimulate the economy. Carnegie also talked about his disbelief in inheriting wealth because it was not good for the economy, instead he believed money should be handed out to charities, business and family during one's life time. That way the money would be of value during their lifetime, rather than lose its value after their death. Carnegie finishes by saying that it is the wealthy man's duty to help the economy and the other people in the economy.

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