Question

Describe the significance of Andrew Carnegie’s philosophy of the Gospel of Wealth.

Answer 1

Andrew Carnegie's philosophy of the Gospel of Wealth was a set of beliefs that advocated for the responsible use of wealth by the wealthy. He believed that the wealthy had a moral obligation to use their wealth to benefit society. He argued that the wealthy should use their money to fund public works, such as libraries, schools, and hospitals, and to support charities and philanthropic causes. He also believed that the wealthy should use their money to promote economic growth and development. Carnegie's philosophy was influential in the development of modern philanthropy and the concept of corporate social responsibility.