LAD/Blog #22: Carnegie's Gospel of Wealth

Carnegie believes that a capitalist society needs economic development and growth with a distinct line dividing the rich and poor. He says that people become employed as a result of business opportunities created by industry leaders, such as himself. He believes that the working class can't have luxuries, only industry leaders. He believes that in a capitalist society there are better quality of goods at affordable prices for everyone. The law of competition creates conflict between the employee and the employer. He says that this can lead to the growth of a business and that competition is key. The competition law can benefit leaders such as Carnegie because of the environment it creates and of the possibility of much profit. It can also benefit people that are motivated and don't put limits on themselves which allows for personal economic growth. Although their are of course negatives to this system, the rewards go to the ones that work for it. Carnegie says that when distributing extra money in your will to consider ones options. For family, one has an obligation to help in anyway, but extra money from that can be put towards charitable contributions. He also says that higher taxes may encourage people with money to find other uses for their money that benefit society while they are alive, instead of leaving family to do it once they are dead. He also says that whatever place one puts their money, that it should help the maximum number of people. Carnegie believes that the wealthy should not make it a public show of ones wealth but to do it more in the shadows. He says that one should provide for the family but use extra money to benefit society. He also believes that when donating to charities that it is important to put ones money into charities that aid in societal growth. These charities could include libraries or peace keeping.
Social Darwinism- the idea that only the ones best adapted to the environment will survive.
I think that Carnegie would have preferred a laissez-faire policy because in order for the rich to make an abundance of money, it is much easier to do that without government regulations. If the rich continue to have that money then they would be more likely to use it to benefit society. Government regulations would make it harder to make money due to regulations that would cost money leaving the rich less wealthy.

Gates and Carnegie are both philanthropists that used their money in a way that benefited societal growth, while still having large fortunes due to the businesses they were a part of.