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

The Gospel Of Wealth, By Andrew Carnegie

1151 words - 5 pages

In the “Gospel of wealth”, Andrew Carnegie argues that it is the duty of the wealthy entrepreneur who has amassed a great fortune during their lifetime, to give back to those less fortunate. Greed and selfishness may force some readers to see these arguments as preposterous; however, greed is a key ingredient in successful competition. It forces competitors to perform at a higher level than their peers in hopes of obtaining more money and individual wealth. A capitalist society that allows this wealth to accumulate in the hands of the few might be beneficial to the human race because it could promote competition between companies; it might ensure health care for everyone no matter their social standing, and parks and recreation could be built for the enjoyment of society.
Carnegie states, “Under the law of competition, the employer of thousands is forced into the strictest economies, among which the rates paid to labor figure prominently, and often there is friction between employer and the employed, between capital and labor, between rich and poor” (393). It is this competitive nature which allows the hardest working individuals to rise above their peers, create personal wealth and continue to accumulate wealth. Competition is a beneficial to capitalism. A company can produce an item and sell the
Morris 2
item at a price, set forth by the company, to make a profit. Greed may have the profit margin set high, so the return on the item is substantial to the company. If another company can make a similar item and sell it for less, while still making a profit, society and the company benefit. It forces the company with the higher profit margin to either find a more cost effective way to produce the item, or cut their profit margin. In turn, society benefits because the value of the items produced by these companies may continue to be reduced in price, becoming more affordable for the consumer. The company might benefit because it will be able to reinvest the profit and continue making affordable items, possibly forcing their competition out of business. When Carnegie speaks about individualism, private property, the law of accumulation of wealth, and the law of competition, he says “for these are the highest results of human experience, the soil in which society has so far produced the best fruit” (395).
Social classes have different standards of living. By properly administering wealth, Carnegie becomes the trustee of his poorer brethren’s funds. He believes the wealthy man, with his superior knowledge and experience in financial matters, is better suited to administer these funds. Carnegie says he would be “doing for them better than they would or could for themselves” (399). A wealthy person could buy a few acres of land, build a hospital, and create a hundred jobs in the hospital while creating affordable or free health care. The wealthy do not have to worry about how much it would cost if they were diagnosed with...

Find Another Essay On The Gospel of Wealth, by Andrew Carnegie

Andrew Carnegie and the Rise of Big Business

795 words - 4 pages In Harold C. Livesay’s Andrew Carnegie and the rise of Big Business, Andrew Carnegie’s struggles and desires throughout his life are formed into different challenges of being the influential leader of the United States of America. The book also covers the belief of the American Dream in that people can climb up the ladder of society by hard work and the dream of becoming an influential citizen, just as Carnegie did. The biography begins

Social Darwinism, the Gospel of Wealth, and the Gilded Age

709 words - 3 pages offered a convenient means by which wealthy Americans and politicians could justify the growing disparity between the rich and the poor during the Gilded Age. This growing disparity spurred the wealthiest man in the world to publish an article on the philanthropic responsibilities of the rich titled “The Gospel of Wealth”. The Gospel of Wealth is an article written by Andrew Carnegie in 1889 positing that America’s new rich practice

A Brief Biography of Andrew Carnegie

1032 words - 5 pages wife agrees to an annual income and relinquishing any right to her husband's fortune since he "desires and intends to devote the bulk of his estate to charitable and educational purposes"”. (Juskalian, 2006) By the end of his life Andrew Carnegie had given away nearly 350 million dollars putting even more into the Carnegie Foundation to continue his philanthropic efforts. Throughout Carnegies life he struggled to find a balance between two ideals

Andrew Carnegie and the the Second Industrial Revolution

573 words - 2 pages foot in the door to the business of Pittsburg. This allowed him to begin a job at the Pennsylvania Railroad as a secretary to the railroad official, Thomas Scott. By making wise choices, taking control of situations and making smart investments, he soon began climbing the ladder of success. Scott immediately noticed Carnegie as a valuable asset to the company and to his own wealth and took him on as a partner after several promotions. As

The Gospel of Christ

923 words - 4 pages with the works a particular culture and their worldview. The book Hidden Worldviews by Steve Wilkens and Mark L. Sanford, describe eight Worldviews that pertain to American culture and subtly undermine the message of the gospel. ( I read this book last semester). A point Wilkens and Sanford state in the beginning of the book is that often most worldview let Christian readers off the hook easily, because they agree with all the flaws of the other

The Gospel of Luke

4932 words - 20 pages The Gospel of Luke The Gospel of Luke, Gentile Physician and companion of Paul wrote this Gospel in the mid 60's A.D. Luke wrote both the Gospel of Luke and Acts making him the largest contributor to the New Testament. These writings both begin with dedications to Theophilus, perhaps a potential or recent convert or patron who sponsored the circulation of Luke and Acts

The Gospel of John

916 words - 4 pages fourth Gospel, three Epistles, and possibly the Book of Revelation. Later Emperor Dometian had taken John to Rome where he was beaten, drugged, and put into boiling oil. When he stepped out he was banished to Patmos. When John was on his way to Asia to give the word, the ship was caught in the storm, and everyone but John drifted to the shore. Everyone thought John was dead. Two weeks later John appeared at the shore at the feet of the

The Gospel of Luke

1236 words - 5 pages of what the angel told her long ago of her pregnancy but was not fully aware of what was to come. "Such knowledge would have broken the bond of His humanity to ours, by severing that which bound Him as a child to His mother. We would not have become His brethren had He not been truly the Virgin's Son. The mystery of the incarnation would have been needless and fruitless had His humanity not been subject to all its rights and ordinary

The Gospel of Freedom

687 words - 3 pages more passionate and gives more personal reasons for being in Birmingham. As in the 3rd paragraph he appeals to the audience's sense of faith and in the 4th paragraph he states his quest to stop injustice. He uses an analogy to compare himself to the Apostle Paul, as "Apostle Paul left his village of Tarsus and carried the gospel of Jesus Christ to the far corners of the Greco-Roman world, so am I. Compelled to carry the gospel of freedom beyond my

Andrew Carnegie, John Davison Rockefeller, and John Pierpont Morgan: Captains of Industry

905 words - 4 pages the United States’ economy, but society as well. Andrew Carnegie, John Davison Rockefeller, and John Pierpont Morgan reflect the mammoth industrial age of America. Although some may argue these industrialists were “robber barons,” these men were, in reality, “captains of industry” utilizing modern business practices and technology which provided both cheap products and job opportunities for the public, as well as becoming large-scale

The Distribution of Wealth

1110 words - 4 pages further into a life of poverty. The beliefs discussed above come from three different writers. Those writers include Andrew Carnegie, Karl Marx, and Robert B. Reich. These writers all have different opinions on how wealth should be distributed properly. Andrew Carnegie does not believe wealth is distributed properly (Carnegie 485). In fact, he has a few different ideas of how to distribute wealth. In Carnegie’s essay, “The Gospel of Wealth

Similar Essays

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 "rags to riches" in the railroad and steel industry. And by 1901, he was one of the richest men in the World and one of the few men who actually achieved the American ideal of "rags to riches" (Brinkley, Alan, et al 518). He amassed a huge fortune in the steel industry and in 1901 simply quit the business life and lived the rest of his life as a philanthropist. Following the principles laid down in his book, The Gospel of Wealth, Carnegie donated

The Life Of Andrew Carnegie Essay

706 words - 3 pages that his father did not realize the imminent revolution, and was struggling under the old system (Carnegie 10). His mother had to step in and help secure their position of financial stability for the sake of the family by opening a shop; it aided in financial stability. The very grateful son had said that he would fix this issue, by which when he became a man. Works Cited Carnegie, Andrew. The Autobiography of Andrew Carnegie. Lexington: Renaissance Classics, 2012. Print.

Andrew Carnegie And The Rise Of Big Business By William Olsen

1130 words - 5 pages Andrew Carnegie and the Rise of Big Business written by Harold C. Livesay, is a narrative account of Andrew Carnegie's life as a businessman that Chronicles the events on his life as a poor bobbin boy to become later the world's richest man and his ways of doing business. This account gives insight into how a boy went from rags to riches Andrew Carnegie was born in Dunfermline, Scotland. Because of a decline of weavers and the rise of textile

"Andrew Carnegie And The Rise Of Big Business" Book Review And Overview Of The Life Of Andrew Carnegie

874 words - 3 pages income by cobbling and selling her work in a small store she opened in front of their house, but nothing worked out, despite efforts to find a steady job by his dad and mom. People started sailing to America because their "old home no longer promised anything at all." (pg 14)Andrew Carnegie got his first job when he got to America. He worked for a local textile mill as a bobbin boy getting paid $1.20 a week. The owner of this mill helped out because