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Andrew Carnegie's Administration Of Wealth

880 Words4 Pages

Understanding a person in the 1800s wouldn’t be the same as a person living in present time; but a man once said, “Do your duty and a little more and the future will take care of itself”. This wasn’t just any man of course, Andrew Carnegie an icon in his time known for his climb into wealth was full of ideas that provoked society when he was alive. Although his ideas weren’t universally accepted it guided people into a mentality where those with acquired and inherited wealth could give back in a tasteful manner so that the poor and wealthy live in a state of economy harmoniously. Carnegie explicitly states, “The problem of our age is the proper administration of wealth” right from the beginning, a small stepping stone of the ideas that follow to back up why this is a problem in his time as well as today. Although this is an idea most people think about with their own wealth unless you have a large amount of capital to back up your own living …show more content…

He argues having a trust fund dedicated to a few people who decide what the best option to use it for, is better than just giving money to everyone in the town for example and letting them run wild with free money. Although people always want to have money, it’s apparent that not everyone decides what to do with it wisely. If 5 people who are worthy of being chosen for example use money given by the wealthy; this action becomes the “means” by which is necessary to support the “many” with opportunities like libraries, shelters, railroads, really anything that is necessary for an economy or town to flourish. Thus, the wealthy live the way they choose with a significantly modest amount; any surplus wealth is used to benefit those who have less, mimicking a symbiotic solution that Carnegie believes rich and poor are faced

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