The document under analysis here is Andrew Carnegie’s essay on the proper uses of wealth in The Gospel of Wealth, originally published in the North American Review in 1889. The document is a journal article that was written by the founder of Carnegie Steel to explain the relationship between the creation of wealth and social provisions. During the Gilded Age, Robber Barons like Carnegie and Rockefeller often acquired enormous fortunes on the backs of laborers while enjoying no taxes on personal income. Extremism in the form of labor relations tarnished the image of many Robber Barons when strikes turned deadly. Carnegie’s purpose in writing this article was to define the appropriate uses of wealth by the wealthy.
The document advocates that those with enormous wealth should not leave their fortunes to relatives through inheritance. Instead excess funds should be used for philanthropic pursuits that aim to dispose of wealth in a socially utilitarian manner. Carnegie advocates a high income tax on inherited wealth as “policy that would work powerfully to induce the rich man to attend to the administration of wealth during his life, which is the end that society should always have in view, as being that by far most fruitful for the people” (Carnegie 2). Carnegie felt that excess funds going toward community good did not interfere with capitalism or earning potential but it did redistribute resources between rich and poor. He wrote this document to persuade other billionaires to promote public works while trying to reduce the animosity many poor felt toward the Robber Barons of the era.
Carnegie, A. Modern History Sourcebook: Andrew Carnegies: The Gospel of Wealth, North American Review, 148(391), (June 1889: 653-657). Available: http://www.fordham.edu/halsall/mod/1889carnegie.html, 1-3.
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