Andrew Carnegie Wealth

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To understand the concept of “Wealth” by Andrew Carnegie, you must first understand a little bit about Andrew Carnegie. Andrew Carnegie began his career as a minor employee in a telegraph company, until he emerged as a superintendent of the Pennsylvania Railroad. He then entered the iron and steel business, and by 188 he had eight companies. Shortly before he died, he merged the Carnegie Steel Corporation with the United States Steel Company. In result to this, Carnegie got his title of being one of the world’s richest men.

Carnegie took the task of managing his fortunes wisely. He felt himself as a hero of the working people, yet he disliked unions. He found himself to be a contributor of many public services like opening libraries, money for teachers, and funds to support peace. Carnegie believed that richness comes from education of families.

He thinks that money is a good thing, and it keeps civilization moving in a positive direction. However, there is such a contrast between the rich and the poor. By this he was referring to inequalities in rights, hereditary powers, and many others. He also felt that we should have a continuum of forward progress because of wealth, i.e. civilizing, industrializing. He also felt that “what were the luxuries have become the necessaries of life” which goes along with this theory. (Carnegie, p. 14)

Andrew Carnegie sates that wealth inevitably goes to a concentrated amount of people in the best possible set of circumstances, but the question that arrives is what to do with the money in order to best serve the general public. What can a man do with his excesses amount of money? There seems to be three solutions that Carnegie goes by. Leaving one’s money to his family or his oldest sun, which is a bad idea, said Carnegie. He states that no one can duplicate another’s style or strategies. A son can make mistakes and lose the fortune, which doesn’t benefit anybody, including the general public. He thinks that if the son gets the money, he might not appreciate where it came from or how it was earned, and might just spend it poorly.




One other way that Carnegie suggested to distribute money was through donating it to public services, which is how he spent his own money. He personally chose this idea, because it serves the most good to the most amounts of people possible which is a deontological view. He also thinks that taxing the wealth obtained by a recently deceased man is a great way of giving back to the community. That way people will be looking over his money, and the money will be spent towards the best possible solutions for the people. The best way of distributing money is basically through competition, like present day. The idea that each individual is working for himself in attaining wealth. In the end, there will still be wealth in a few, but they will spread their wealth through public services and donating, thus in result benefiting as many people as possible, instead of distributing small amounts of money equally which doesn’t solve anything, suggested by a communistic view.

Finally, Carnegie brings up specific duties that the wealth should abide by to maintain a balance. He states that the wealth should be giving and modest, and that the wealthy should administer his/her money so the greatest amount of people possible benefit off of it. Thus, satisfying all.



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