This website uses cookies to ensure you have the best experience. Learn more

Carnegie's Wealth Distribution Solution: Outdated Or Outstanding?

1229 words - 5 pages

Andrew Carnegie stated that the problem of our age is the proper administration of wealth and his opinion precisely reflects the real situation. Because it can be observed throughout history of human beings that usually majority was in such poverty, which barely enables them to survive. Carnegie was one of the richest men in the world of his times and maybe he knew as a successful businessman what the actual problem in distribution of wealth is. He has proposed possible solution of beneficial wealth distribution for this problem and it actually might work in his times. However, economy has changed compared with Carnegie’s times and it has become more global as lots of technological innovations were implemented. Robert Reich described current global economy in his work titled “Why the rich are getting richer, and the poor, poorer” where Carnegie’s solution may not properly work. The Carnegie’s solution may not properly work taking into account the obstacles such as increase of competition, permanent work in business and ageing population. Nevertheless, this means that only possibility of success of solution decreases, therefore it is not sensible to infer that the solution will not work at all.
As has been said, Carnegie suggested solution for problem of administration of wealth distribution of surplus fortune in order to construct community services and money donation for those who really want to improve his or her life. Carnegie proposed the solution of constructing community services such as parks and libraries owing to the donated money. Construction of community services is much beneficial rather than fractionally giving money to every poor. This is because these community goods may bring such conditions which will give chance to people to prosper in variety of areas such as spirituality, education and health. An administration of wealth to them who really wants to get back on his feet was also suggested by Carnegie. As ancient Chinese philosopher Lao Tzu said “Give a man a fish, feed him for a day. Teach a man to fish, feed him for a lifetime”. As a poor gets education, for instance, in community library, and some start-up capital, he or she may succeed in business and eventually may bring much more benefit to society by following money donation. Carnegie was not just donating money to poor and going away with a feeling of accomplished mission and clear conscience. He really took an interest in whether his donated money has been properly used or not. This proposed solution by Carnegie was socially significant to community at that time, which could result an appropriate level of satisfaction among people, taking into account that majority of routine workers had stable wages.
Today’s global economy which was described by Reich is significantly different from economy of Carnegie’s times. Firstly, competition between routine workers has considerably increased and deregulation process occurred in lots of states, especially in communistic....

Find Another Essay On Carnegie's Wealth Distribution Solution: Outdated or Outstanding?

causes of the great depression Essay

582 words - 2 pages The Great Depression was a decade of poverty for many United States citizens. Starting in 1929, The Great Depression was a rough time not only for the U.S. but for many other countries. There are many causes for the Depression but the main cause was the combination of the greatly unequal distribution of wealth throughout the 1920's and the extensive stock market speculation(Gusmorino, 1). Other causes were the unsteadiness of the stock market

power and politics Essay

612 words - 3 pages outstanding service record. This alienated Jobs and he was forced to look for solution elsewhere and consulted Fred Smith from Fedex who was familiar with IBM’s JIT model. If Donna would have tried to understand Steve’s problem and reduced this uncertainty then he wouldn’t have gone to external sources to find a solution. Even after Jobs went to external sources and asked Coleman to investigate JIT distribution, Donna, Coleman, and Apple did not

Who Were the Robber Barons? what was their impact on the economy today? who are some modern robber barons? What is a robber baron who are the three robber barons listed?

2912 words - 12 pages his role as head of the American telephone company, yet he did not become a billionaire.On the other hand, their personal consumption is only an infinitesimal proportion of their total wealth. Much less of Andrew Carnegie's fortune from his steel mills went to his own personal consumption than has gone to his attempts to promote international peace, or to build libraries to increase literacy. The child who in mid-nineteenth century Scotland

The Jungle, Upton Sinclair, describe hardships endured by Jurgis and the causes behind them

838 words - 3 pages and freeze?" (Sinclair, 160) The Jungle, by Upton Sinclair, was written as a counter to Andrew Carnegie's Wealth. The Jungle portrays the capitalist system in America as corrupt and evil. The protagonist, Jurgis Rudkus and his family faces hardship after hardship, each one slowly breaking apart their family. From the time Jurgis stepped off the boat in America, the cards were stacked against him; he could not speak, read, or write English, he was

Robber Barons

961 words - 4 pages Standard Oil or "in the worst cases, their factories mysteriously blowing up (Robber Barons)." He was obsessed with controlling the oil market and used many detrimental tactics to flush his competitors out of the market. Since his Standard Oil Company was so large, Rockefeller was able to pressure rebates from railroad companies and temporarily cut prices for Standard Oil kerosene to force rival companies to sell out. By 1881, his company controlled 90

Comparing Frankenstein, Origin of the Species and Decent of Man

1408 words - 6 pages accumulation and distribution of wealth in society in "The Gospel of Wealth." In this essay, Carnegie demonstrated how accumulating wealth was essential to our society because it implements the idea of "the survival of the fittest." He also described how an individual should relate themselves to society, and act in an admirable fashion. Carnegie said that the duty of man was:  “To set an example of modest, unostentatious living, shunning display

occupy wall street movement

914 words - 4 pages companies, and trying to enhance control over wealth distribution in the nation. This strategy implies that special department should be established, and this “financial police” will control corporate businesses. Main key point in such strategy is to normalize economy manually, which also means that it will last not so long because the economy of the country is expected to shrink in a long-term. Another solution is to increase property taxes. Such

Andrew Carnegie and the the Second Industrial Revolution

573 words - 2 pages generous to his workers in the factories than to just the common person. He could have maybe raised their wages and cut their hours, or given them a few days off, more than once a year, if he really wanted to help them. The libraries and theaters are nice, but higher wages would have decreased the struggle to provide his workers faced. Overall I think Carnegie's good outweighs his bad, and without him the second industrial revolution would have

The Distribution of Wealth

1110 words - 4 pages Everyone has his or her own ideas of how wealth should be distributed properly. Some people believe wealth should be left to family, left for public services, or become the property of others. Others believe that people should not have excess wealth, resulting in non-existent class distinctions. An alternative view is that wealth is not distributed; instead, the wealthy continue to grow wealthier while those in poverty can not escape it and fall

An essay about individuality, liberty and equality in the context of "Looking Backward: 2000-1887" by Edward Bellamy and Alexis de Tocqueville's, "Democracy in America"

3949 words - 16 pages order to be sized up in some fashion can be debated. Like it or not, one's salary plays a large part of one's status in the way society is run today. So how does it all remain equal in Bellamy's future? As it is explained to Julian there is no longer any need for money to facilitate deals when there is only one producer and distributor of goods and services. Therefore, it follows that all wealth is distributed evenly amongst all citizens. Each person

Black Wealth/ White Wealth and The Social Stratification Theory

1457 words - 6 pages a rate per hour, week, or year” (Black 273). Wealth on the other hand, “is a stock of assets owned at a particular time” (Black 273). Wealth is different from income in that it represents a control over financial resources that have been accumulated over time such as land, valuables, stock options, trust funds etc… Wealth when combined with income provides the resources needed to obtain the “good life”. Some examples of what wealth can provide

Similar Essays

Karl Marx And Andrew Carnegie Concerning Their Ideologies On Class Tensions

1808 words - 7 pages them with competitive monetary ones. He believes that with the growing class of the proletariat, eventually they will all unite and overthrow the bourgeois in an effort to revolutionize society and create unified distribution of wealth that removes all conflicts and battles between the classes. Removing competition will enable society to flourish at a constant rate and revive the humanistic values of society. Unfortunately, such an economic system

Andrew Carnegie Essay

1176 words - 5 pages received his only formal education during the short time between his birth and his move to the United States. When steam machinery for weaving came into use, Carnegie's father sold his looms and household goods, sailing to America with his wife and two sons. At this time, Andrew was twelve, and his brother, Thomas, was five. Arriving into New York on August 14, 1848, aboard the Wiscasset from Glasgow, the Carnegies wasted little time settling in

Andrew Carnegie And His Life Essay

909 words - 4 pages America by selling all their belongings and borrowing more money. They moved to Pittsburgh. At that time Pittsburgh was covered with soot, scorched by fire, and foul with industrial waste. In fact it was so bad Carnegie's optimism faded and he said, "The smoke permeated and penetrated everything... If you washed your face and hands they were as dirty as ever in an hour. The soot gathered in the hair and irritated the skin, and for a time... life was

Compare And Contrast The Attitudes Of Andrew Carnegie, Eugene V. Debs And Booker T. Washington Towards The New Wealth Created In America During The Late Nineteenth Century Bibliography Included!

1415 words - 6 pages would become dependent on it. He wanted to have this money fund primarily libraries, so that the poor could help themselves, exactly the way he had done. He believed all excess money was simply a blessing and an entrustment from the public that was to be redistributed back into society and in a way that would better it (Brinkley, Alan, et al 523). The Carnegie Corporation sums up Andrew Carnegie's beliefs, "Many persons of wealth have