1. What does Carnegie mean by the proper administration of wealth? The author called Andrew Carnegie speaks about philanthropy. He indicates his views on proper administration of wealth having harmony and good relantionships among individuals as the main goal.
2. What “change” is Carnegie talking about?
He believes a change is needed based on examples of common problems between rich and poor.
3. What are problems that exist between the rich and the poor?
He analyzes the contrast between the palace of the millionaire and the cottage of the laborer and the master and servant relatioship among the Sioux.
4. What does Carnegie mean by “mutual ignorance breeds mutual distrust”?
By his phrase “mutual ignorance breeds mutual distrust” he means that as long as we don't know much from each other, we will be afraid of what the other person could do, making trust something impossible to get in that kind of relationships.
5. What risks are involved with giving donations to individuals?
Carnegie says corporations use millions on the interest to be made upon the capital invested, and demand the income to exceed their expenses, and support the idea that they must accumulate wealth.
6. So, who does Carnegie argue money should be given to?
According to him there is only three possibilities on how to manage one's wealth in life: It can be left to the families of the decedents; or bequeathed for public purposes; administered during the possessors lifetime. He concludes the third kind are most fruitful for the people. The money or wealth of the few should be used and become the property of the many.
7. What is the role of a trustee?
He says "the millionaire will be but a trustee for the poor; intrusted for a season" speaking about law. He mentions about the cost of having many factory workers and the law by his phrase "while the law may be sometimes hard for the individual, it is best for the race."
8. How might the wealthy build peace and good will among people?
Through a more equal division of wealth and therefore less social gap.
Using evidence from “The Gospel of Wealth”, explain Carnegie’s view on wealth.
The article titled “Wealth” which was later better known as "The Gospel of Wealth" was published in the North American Review back in the year 1889.
The manufacture process of products and master and his apprentices relantionships are mentioned and in general the quality of life is said to had improved and "the poor enjoy what the rich could not before afford." he means people are having better living conditions, simply because generations that have made improvements have passed.
