LAD #21: Carnegie's Gospel of Wealth

http://i0.wp.com/listabuzz.com/wp-content/uploads/2015/05/andrew-carnegie.jpg

LAD #21: Carnegie's Gospel of Wealth

The document begins by discussing the way the wealth gap and the difference in standard of living between the rich and the poor had increased up to that point, how the upper class mansions were contrasted by the working class homes and apartments. Carnegie then says that it is a good thing, and that if the world were to go back to the way it was, with everyone living in "squalor," it would be very detrimental to society. Next, he questions what the proper way to distribute wealth is, clarifying his definition by excluding competence, wages needed to provide for oneself and one's family. Carnegie offers three options. The first, passing on wealth to family, he scorns, stating he does not agree with passing on wealth to a few based on the vanity of the dying owner. In fact, he says that it is bad for the people receiving the money because it puts an unnecessary responsibility on them. The second possibility is to give the money to the public when they die. This plan only makes it less likely that the wishes of the former owner are carried out. He then mentions how estates are deservedly taxed heavily after death because the former owner was clearly very selfish in life. According to Carnegie, the only good plan is for the rich to live modestly and then use their money for the good of the public through trust funds while they are alive. He argues that it is much more beneficial for large amounts of wealth to be in the hands of a few than smaller amounts in the hands of all.

 http://www.dailystormer.com/wp-content/uploads/2014/08/karl_marx.jpg

This reminded me of Karl Marx and Communism because Carnegie's ideas on the distribution of wealth contrast those of Marx to a great extent.