Final answer:
The Gospel of Wealth by Andrew Carnegie proposes that wealthy individuals have a moral obligation to redistribute their wealth responsibly to benefit society. Carnegie practiced philanthropy by donating to public libraries, scientific research, and other causes, believing in using wealth to improve social conditions and provide opportunities for advancement.
Step-by-step explanation:
Summary of The Gospel of Wealth by Andrew Carnegie
Andrew Carnegie, a prominent steel tycoon, articulated his philosophy on wealth and philanthropy in his essay 'The Gospel of Wealth', published in 1889. Carnegie asserted that the accumulation of wealth is a fundamental aspect of American capitalism, and those who are successful in this system have a moral obligation to redistribute their fortunes in ways that benefit society. He practiced what he preached, donating substantial portions of his wealth to educational, cultural, and scientific initiatives, including public libraries. He saw poverty through the lens of his own experiences and strived to provide examples for other wealthy individuals to follow, recommending against hoarding wealth but using it for the greater good of society.
According to Carnegie's view, the role of the wealthy is not just to amass assets but to serve as stewards of their fortune for the betterment of society. He supported this claim by funding various charitable causes, displaying his belief that charity should be about providing opportunities and tools for self-improvement. Carnegie's work emphasizes a strong work ethic, the pursuit of success, and the importance of giving back as core components of American identity. This philosophy contrasts with, yet was influenced by, social Darwinism, which held that only the fittest should thrive. Instead, Carnegie believed in using wealth to even out social disparities and provide opportunities for those in need.