USA HISTORY

Detailed explanation-1: -Andrew Carnegie’s principles are dictated by the “law of competition, ” which states that the fittest will survive, and “social Darwinism, ” which states that wealth in the hands of a few was good for all of society and they would make the best out of it.

Detailed explanation-2: -His was a world in which might made right and where being too big to fail wasn’t a liability, it was the key to success. In his “Gospel of Wealth", Carnegie wrote that this natural law might be hard for the least among us but “it ensures the survival of the fittest in every department.”

Detailed explanation-3: -Of such as these the public verdict will then be: “The man who dies thus rich dies disgraced.” Such, in my opinion, is the true Gospel concerning Wealth, obedience to which is destined some day to solve the problem of the Rich and the Poor, and to bring “Peace on earth, among men good will."

Detailed explanation-4: -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-5: -Steel magnate Andrew Carnegie wrote his 1889 classic on how the richest in America should give ‘excess wealth’ to the public.