USA HISTORY

Detailed explanation-1: -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.

Detailed explanation-2: -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-3: -“This, then, is held to be the duty of the man of Wealth: First, to set an example of modest, unostentatious living, shunning display or extravagance.”

Detailed explanation-4: -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-5: -Carnegie’s Gospel of Wealth Andrew Carnegie advocated a gentler version of Social Darwinism that he called the Gospel of Wealth. This philosophy held that wealthy Americans should engage in philanthropy, using their fortunes to create the conditions that would help people help themselves.