Question

Summarization of the Gospel of Wealth , please.

Answer 1

1) Ans)The Gospel of Wealth was an article written by Andrew Carnegie in 1889. Carnegie was a Scottish immigrant who became the second richest man in America. By dominating the steel industry, Andrew Carnegie took his place alongside other fabulously wealthy captains of industry like Rockefeller and Vanderbilt. He became convinced that men like him had a responsibility to spend their money to benefit the greater good. This belief became known as the Gospel of Wealth.

While such growth was “essential for the progress of the race,” it unequivocally widened the wealth gap between the rich and the poor. Through the Gospel of Wealth, Carnegie entreated the wealthy “Robber Barons” of his time to address this imbalance through philanthropy He argued that the affluent had a unique responsibility to be philanthropic. In other words, the rich should devote themselves to distributing their wealth responsibly to benefit society
y while they are still alive. He famously ends saying, 'The man who dies thus rich dies disgraced.'

It was the belief that the rich had a responsibility to spend their money to benefit the greater good and that they needed to give back to the poor in some way. The Gospel of Wealth was based on two dangerous assumptions: if you work hard enough you will get rich; if you are not rich there is something wrong with you.

Carnegie disapproved of charitable giving that merely maintained the poor in their impoverished state, and urged a movement toward the creation of a new mode of giving which would create opportunities for the beneficiaries of the gift to better themselves
These concepts were instrumental in the growth and development of "Social Darwinism
Carnegie promoted Gospel of Wealth- those who made money for themselves must use it to promote the advancement of society.

Help fund the creation of public libraries, gave money to philanthropies and charities ranging from Carnegie hall in NYC to Carnegie Endowment for international peace
• Strongly oppose labor union and approving the use of violence against his own workers including the Homestead strike that took place 3 years after the publication of the article.

Men who continue hoarding money all their lives, the proper use of which public ends would work good to the community, the community cannot be deprived of its proper share
* the man who dies leaving behind him millions of available wealth, which was free for him to administer during life, no matter what he uses he leaves the dross which he cannot take with him

Help those who will help themselves, desired to improve,
• Those worthy of assistance usually required assistance, the really valuable men of the race never do except in accident or sudden change.
• The amount of help one give to another depends on his knowledge of the circumstance and connection
• Careful and anxious to not help the unworthy, more injury would be done than relieving the virtue.

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