USA HISTORY

Detailed explanation-1: -In “The Gospel of Wealth, ” Carnegie argued that extremely wealthy Americans like himself had a responsibility to spend their money in order to benefit the greater good. In other words, the richest Americans should actively engage in philanthropy and charity in order to close the widening gap between rich and poor.

Detailed explanation-2: -In addition to funding libraries, he paid for thousands of church organs in the United States and around the world. Carnegie’s wealth helped to establish numerous colleges, schools, nonprofit organizations and associations in his adopted country and many others.

Detailed explanation-3: -What is Carnegie saying is another, alternative mode of dealing with excess wealth? “in the form of wages” i.e. paying people more. In other words, instead of the person of great wealth “administering” this excess wealth while alive and as he sees fit, he would instead raise wages or pay more to those working for him.