WESTWARD EXPANSION INDUSTRIALIZATION URBANIZATION 1870 1900
ANDREW CARNEGIE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Give their money away to good causes while still alive.
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Give their money away to bad causes while still alive.
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Leave their money to their children
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Store the money safely in the bank
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Detailed explanation-1: -Where do millionaires keep their money? High net worth individuals put money into different classifications of financial and real assets, including stocks, mutual funds, retirement accounts and real estate. There were 24.5 million millionaires in the U.S. in 2022. And only 21% of them inherited money.
Detailed explanation-2: -The rich people may also control the powerful people in our country. They can use their wealth to control the cultural discourse, which we will experience in our life. Or they may use charity to gain social capital and establish their hegemony and shape the nature of society.
Detailed explanation-3: -Ultimately, each person’s attitude towards the creation, accumulation and spending of wealth is down to our cultural, social, religious (if any) and familial influences. Thus, there is no real moral obligation for the rich to donate their wealth as each person’s philosophy and view of morality would be different.