Gospel of Wealth
Summary: First off, Carnegie states that the new age of the very rich few and the poor majority is not in itself a bad thing. He argues that in past ages it was simply the very poor and the less poor, and that by having these extremely wealthy moguls (which are themselves the creation of ingenuity and enterprise), society is elevated as a whole. Carnegie then changes course, discussing the "three uses of wealth." Those being: bequeathing it to heirs, giving it to the public upon death, and spending. The tycoon then lampoons the first two, arguing that heirs are often ruined by the large wealth they gain (Europe), and that society may misuse money directly given to it. Instead, Carnegie says that a wealthy man should spend his wealth, essentially stating that by spending he helps the economy as a whole, and thus society as well.
(In this piece, Carnegie also references the newborn Estate Tax, the eradication of which has become a token aspect of Republican politics in the present day).
No comments:
Post a Comment