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Critique Of Carnegie's Views On Wealth

599 Words3 Pages

1.Carnegie writes that a competition between the rich and the poor is not only beneficial, but necessary for future progress of the human race. He views the system as an inevitable path that leads to wealth being achieved by few people. The millionaire is supposed to become the trustee for the working poor. The rich are trusted to administer wealth for the community better than it could have been done by the common person.

2. Carnegie’ plan puts the majority of the power in the hands of the wealthy. Carnegie does support ideals of social darwinism, but he also believes that the rich will properly administer wealth in a way that benefits all citizens. His plan is calculated to produce the most beneficial results for the community-the man …show more content…

Carnegie’s proposal supports the insurmountable gap between the rich and poor. He supports the idea of the few wealthy individuals making decisions for the larger population. The working class wouldn’t be able to trust the wealthy to make choices with their best interest at heart. It could also be argued that this proposal goes against the entire concept of the American Dream. There wouldn’t be equal opportunities for all citizens, just for a select few.

II. On the Standard Oil Company

1. Ida Tarbell called the Standard Oil Company an octopus because the company controlled every aspect of oil production and tried to prevent rival companies from competing. Similar to an octopus with eight tentacles, it seemed that Standard Oil was constantly wrapping around other companies in the form of destruction. In short, the oil company had turned into a manipulative monopoly.

2. Along with criticizing his business, Tarbell brings Rockefeller’s personality into the equation. Tarbell points out that Rockefeller is only in the business for the money, and he will bully others in order to make his way to the top. In Tarbell’s opinion, Rockefeller has made his fortune by dealing sly tricks and special privileges. She also claims that the nation has become too focused on commercialization and boasting about

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