Andrew Carnegie’s Gospel of Wealth (June 1889)

Q: What is the main problem Andrew Carnegie addresses in the "Gospel of Wealth"?

The main problem is the administration of wealth in a way that maintains harmony between the rich and poor.

Q: How does Carnegie describe the change in living conditions over the past few hundred years?

He notes that there used to be little difference between the living conditions of the rich and poor, but now there is a stark contrast between the homes of millionaires and laborers.

Q: Why does Carnegie believe the change in wealth distribution should be welcomed?

He argues that it is beneficial for the progress of civilization, as wealth allows for advancements in literature, arts, and overall refinement.

Q: What does Carnegie think about the idea of returning to the "good old times"?

He believes that the "good old times" were not actually good and that returning to those conditions would be disastrous for both the rich and the poor.

Q: According to Carnegie, what is the price society pays for the law of competition?

Society pays a high price for the law of competition, but it also brings great advantages, such as material development and improved conditions.

Q: How does Carnegie view the law of competition?

He views it as essential and beneficial for human progress, ensuring the survival of the fittest in every field.

Q: What does Carnegie believe about the concentration of business and industry in the hands of a few?

He believes it is a necessary condition for progress and should be accepted and welcomed.

Q: What does Carnegie see as the duty of the wealthy?

The wealthy have a duty to act as trustees for the poor, using their wisdom and experience to administer wealth for the benefit of the community.

Q: How does Carnegie describe the role of a millionaire in society?

He describes the millionaire as a trustee of the community's wealth, responsible for distributing surplus wealth for the general good.

Q: What does Carnegie believe about the laws of accumulation and distribution?

He believes they should remain free and that individualism will continue, with the wealthy administering wealth for the benefit of society.

Q: According to Carnegie, what is the only creditable way to dispose of surplus wealth?

The only creditable way is to use it year

Q: How does Carnegie describe the future of wealth administration?

He suggests that society is reaching a stage where the best minds recognize that surplus wealth must be used for the common good.

Q: What metaphor does Carnegie use to describe the dawn of a new era in wealth distribution?

He describes it as a new day already dawning, indicating a shift toward responsible administration of wealth for public benefit.