WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
AMERICAN INDUSTRY DEVELOPMENT IN THE GILDED AGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Privately held wealth should be handed over to the government to be redistributed
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Wealthy individuals should use their wealth for social benefit
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Parents have an obligation to pass on their wealth to their children
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Accumulating large amounts of wealth violates Christian principals
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Detailed explanation-1: -He believed in the “Gospel of Wealth, ” which meant that wealthy people were morally obligated to give their money back to others in society. Carnegie had made some charitable donations before 1901, but after that time, giving his money away became his new occupation.
Detailed explanation-2: -The purpose of The Gospel of Wealth was how to deal with the issue of wealth inequality that was budding in the United States. He felt the wealthy needed to utilize their excess prosperity thoughtfully and responsibly. Carnegie argued that excess wealth should be used to benefit society.
Detailed explanation-3: -In other words, the rich should devote themselves to distributing their wealth responsibly to benefit society while they are still alive. He famously ends saying, ‘The man who dies thus rich dies disgraced. ‘ Practicing what he preached, at the time of his death Carnegie had given away $350 million of his own money.
Detailed explanation-4: -Which idea is an aspect of Carnegie’s “Gospel of Wealth” that is based on social Darwinism? The wealthy are best suited to help the less fortunate.