LAD #21: Carnegie's Gospel of Wealth

Carnegie believed that there was very little difference in the lifestyles of the rich and poor in former times. However, as society has progressed, it is better for some to live in wealth than none, and it is necessary for the progress of the civilization. He found that a surplus of wealth can be disposed of in three ways: left to the family, used for public works, or administered during the lives by the wealthy. He believed the first way was unjust as it was the tradition in Europe that was not beneficial to the family to receive such a burden. He also is not supportive of the second way because the wealth may not be used as the giver intended as he has no power over it. Furthermore, he does support the taxation of a wealthy estate after death as it would encourage the rich to distribute their wealth during their lifetime rather than leaving it to the state. Carnegie believed this last point to be the best way to manage his wealth after his death. In addition, he was under the impression that it is the best solution for the unequal distribution of wealth as an evolution of a communist system. The vast wealth of the minority will be spread to the majority, and will be beneficial to the masses. In conclusion, Carnegie believed that the duty of the wealthy was to set an example of modest living to provide for his dependents and distribute the wealth to the common good.