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'''"Wealth"''', more commonly known as '''"The Gospel of Wealth"''',<ref>[http://books.google.com/books?id=q5ALvRp61wgC&printsec=titlepage&dq=Carnegie+onCuba&lr=&sou... The Gospel of Wealth by Andrew Carnegie]</ref> is an essay written by [[Andrew Carnegie]] in 1889<ref>{{cite web|url=http://historymatters.gmu.edu/d/5767/|title=The Gospel According to Andrew: Carnegie's Hymn to Wealth|accessdate=13 July 2010}}</ref> that described the responsibility of [[philanthropy]] by the new upper class of self-made rich. The central thesis of Carnegie's essay was the peril of allowing large sums of [[money]] to be passed into the hands of persons or organizations ill-equipped mentally or emotionally to cope with them. As a result, the wealthy entrepreneur must assume the responsibility of distributing his fortune in a way that it will be put to good use, and not wasted on frivolous expenditure. |
'''"Wealth"'''{{Citation needed|date=July 2010}}, more commonly known as '''"The Gospel of Wealth"''',<ref>[http://books.google.com/books?id=q5ALvRp61wgC&printsec=titlepage&dq=Carnegie+onCuba&lr=&sou... The Gospel of Wealth by Andrew Carnegie]</ref> is an essay written by [[Andrew Carnegie]] in 1889<ref>{{cite web|url=http://historymatters.gmu.edu/d/5767/|title=The Gospel According to Andrew: Carnegie's Hymn to Wealth|accessdate=13 July 2010}}</ref> that described the responsibility of [[philanthropy]] by the new upper class of self-made rich. The central thesis of Carnegie's essay was the peril of allowing large sums of [[money]] to be passed into the hands of persons or organizations ill-equipped mentally or emotionally to cope with them. As a result, the wealthy entrepreneur must assume the responsibility of distributing his fortune in a way that it will be put to good use, and not wasted on frivolous expenditure. |
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== Give to give anew == |
== Give to give anew == |
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Revision as of 17:10, 14 July 2010
 | This article includes a list of references, related reading, or external links, but its sources remain unclear because it lacks inline citations. (March 2009) |
 | This article needs additional citations for verification. (March 2009) |
"Wealth"[citation needed], more commonly known as "The Gospel of Wealth",[1] is an essay written by Andrew Carnegie in 1889[2] that described the responsibility of philanthropy by the new upper class of self-made rich. The central thesis of Carnegie's essay was the peril of allowing large sums of money to be passed into the hands of persons or organizations ill-equipped mentally or emotionally to cope with them. As a result, the wealthy entrepreneur must assume the responsibility of distributing his fortune in a way that it will be put to good use, and not wasted on frivolous expenditure.
Give to give anew
Carnegie based his philosophy on the observation that the heirs of large fortunes frequently squandered them in riotous living rather than nurturing and growing them. Even bequeathing one's fortune to charity was no guarantee that it would be used wisely, since there was no guarantee that a charitable organization not under one's direction would use the money in accordance with one's wishes. Carnegie disapproved of charitable giving that merely maintained the poor in their impoverished state, and urged a movement toward the creation of a new mode of giving which would create opportunities for the beneficiaries of the gift to better themselves. As a result, the gift would not be merely consumed, but would be productive of even greater wealth throughout the society.
Laissez faire
Andrew Carnegie effectively softened some of the harshness of the theory of social Darwinism. He preached that ostentatious living and amassing private treasures was wrong. Carnegie professed the virtues of a laissez-faire system in which the government did not interfere with an individual or organization's right to do as it pleased.[3] His "gospel of wealth" earned much praise, but did not win many converts. Carnegie made it clear that the rich were responsible for the recirculation of their money back into society where it could be used to support the greater good.[4] He claimed that, in bettering society and people here on earth, one would be rewarded at the gates of Paradise.
Carnegie Libraries
Carnegie put his philosophy into practice through a program of gifts to endow public libraries, known as 'Carnegie libraries' in cities and towns throughout the United States and the English-speaking world, with the idea that he was thus providing people with the tools to better themselves.[5] In order to ensure that his gifts would not be wasted, he stipulated that the municipality must pass an ordinance establishing a tax to support the library's ongoing operating costs after the initial grant provided the costs for building and equipping the library. After several communities squandered their grants on extravagant buildings, Carnegie established a system of architectural guidelines that mandated simplicity and functionality. When it became obvious that Carnegie could not give away his entire fortune within his lifetime, he established the Carnegie Foundation to continue his program of giving.
References
- ^ The Gospel of Wealth by Andrew Carnegie
- ^ "The Gospel According to Andrew: Carnegie's Hymn to Wealth". Retrieved 13 July 2010.
- ^ Thomas Kessner Capital City, p. 150, Simon & Schuster, 2003 ISBN 978-0684813516
- ^ Since the Civil War by Charles R. Lingley, pp. 94-5
- ^ Abigail Ayres Van Slyck Free To All, p. 22, University of Chicago Press, 1995 ISBN 978-0226850313
External links
- Wealth, by Andrew Carnegie, North American Review Vol.148, Issue 391 pp.653-665, June 1889. (Later published as Part I of The Gospel of Wealth)
- The Best Fields for Philanthropy, by Andrew Carnegie, North American Review Vol.149, Issue 397 pp.682-699, December 1889. (Later published as Part II of The Gospel of Wealth)
- Excerpts from "Wealth" by Andrew Carnegie, North American Review, 148, no. 391 (June 1889)
- Carnegie, South American View, 223 no. 876 (October 1982)