Essay on Carnegie's Wealth Distribution Solution: Outdated or Outstanding?

Essay on Carnegie's Wealth Distribution Solution: Outdated or Outstanding?

Length: 1120 words (3.2 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Andrew Carnegie stated that the problem of our age is the proper administration of wealth and his opinion precisely reflects the real situation. Because it can be observed throughout history of human beings that usually majority was in such poverty, which barely enables them to survive. Carnegie was one of the richest men in the world of his times and maybe he knew as a successful businessman what the actual problem in distribution of wealth is. He has proposed possible solution of beneficial wealth distribution for this problem and it actually might work in his times. However, economy has changed compared with Carnegie’s times and it has become more global as lots of technological innovations were implemented. Robert Reich described current global economy in his work titled “Why the rich are getting richer, and the poor, poorer” where Carnegie’s solution may not properly work. The Carnegie’s solution may not properly work taking into account the obstacles such as increase of competition, permanent work in business and ageing population. Nevertheless, this means that only possibility of success of solution decreases, therefore it is not sensible to infer that the solution will not work at all.
As has been said, Carnegie suggested solution for problem of administration of wealth distribution of surplus fortune in order to construct community services and money donation for those who really want to improve his or her life. Carnegie proposed the solution of constructing community services such as parks and libraries owing to the donated money. Construction of community services is much beneficial rather than fractionally giving money to every poor. This is because these community goods may bring such conditions which will give chanc...

... middle of paper ...

...aking into account that relative expensiveness of healthcare in developed states and small number of children they have, who possibly may have supported their parents. Therefore the gap might widen and it could be hard to rich men to maintain these old and poor people.
In conclusion, Carnegie has proposed solution of distribution of money to community and ambitious poor people, which could successfully implemented in his times, however, in present time, somehow it may be hard for riches to implement this solution in the changed economy where competition has increased, businessmen tends to develop their business permanently and old people is being aged creating new factor for social tension. Nevertheless, this does not mean that Carnegie’s solution could not be implemented at all. Rich man, who has high morality, will always manage to share his money to community.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

The Inequality Of Wealth Distribution Essay

- When making a controversial point or claim, it is often useful to have data to back it up. In discussing the inequality of wealth distribution in America, the data is not controversial but rather the impact it could have on different policies and governing techniques. In order to understand the best way to react to this data that shows a wealth gap is to look to the great minds of the past and their thoughts on economic inequality. One philosopher who spent a great deal of time discussing the implications and repercussions of economic inequality was Aristotle in his writing Politics....   [tags: Economic inequality, Distribution of wealth]

Better Essays
1274 words (3.6 pages)

The Distribution Of Wealth Inequality Essay

- The distribution of wealth in America has been unevenly distributed since 1970. We can see this distribution clearly through some of the wealthiest people in America who make millions of dollars, compared to a homeless individual. There is a huge income gap between rich and poor, the rich stay rich, and the poor, become poorer. Income inequality refers to the unequal distribution of income and wealth between the social classes of citizens. This concept of income inequality has proved over the years, to be a widespread problem, where in the future, economic inequality in developing countries will make up about “95 percent of the entire global population.” Nancy Birdsall discusses this notion...   [tags: Poverty, Economic inequality, Wealth]

Better Essays
1011 words (2.9 pages)

Pursuit of Wealth Essay

- Throughout history, there has always been a pursuit of wealth; meaning, not just “money,” but also power, land, freedom, and possessions. Under a moral, trustworthy government this is not a problem, it is when the government is corrupt that issues tend to proceed. The pursuit of wealth has had a mostly positive with some negative effects on the development of civilization up until this point; some examples include the fall of Rome, capitalist and communist economic systems, and the American Revolution....   [tags: wealth, ]

Better Essays
824 words (2.4 pages)

Effects of Sudden Wealth on the Winners Essay

- “A fool and his money are soon parted” (Unknown) people who are lucky enough to become suddenly rich will only ruin their life in the long run, either by winning a lottery, having a successful investment, or just claiming an inheritance, with these categories there are same effects: bothering charities, filing for bankruptcy within next five years, and unlasting happiness. Charities will often ask money through organizations, for sudden wealthy, charities wouldn’t leave them alone till they get the amount they want....   [tags: wealth,]

Better Essays
512 words (1.5 pages)

Essay The Social Solutions Of Wealth And Poverty

- ... Money tends to be used as a cover up and distracts people from fixing the root of their problems which may induce depression and cause isolation from lower social classes, having a vast amount of money can cause stress and guilt because they are busy protecting and being parsimonious over their money. I believe that income and wealth redistribution will solve these social problems. Redistribution will solve the financial inequality issue and allow people with lower incomes to save and build their fund more rapidly....   [tags: Poverty, Sociology, Economic inequality]

Better Essays
726 words (2.1 pages)

Understanding the American Wealth Disparity: End of the Road Documentary by Tim Delmastro

- ... bank. This scary tactic is surprising legal according to international tax rules and it is called transfer pricing (We’re Not Broke, Victoria Bruce). These methods are obviously unjust but they are also complete unfair to the shrinking middle class who makes less than a fourth of what these billion dollar corporations make per year. Corporations are not singled out for their shady tactics because the government themselves are also playing a role. The Congress knows about these issues but are simply not acting out any possible actions because money talks....   [tags: developed nations, distribution of wealth]

Better Essays
1632 words (4.7 pages)

Essay on Andrew Carnegie : The Man Of Wealth

- 1. The writer of this document is Andrew Carnegie. Andrew Carnegie was born in 1835 in Allegheny City, Pennsylvania to a happy family of weavers. Although Andrew Carnegie did not make his fortune in weaving, it took the death of his father in 1855 to kick start his mindset to the importance of school and learning. He began to study theatre and drama and got his first job at a telegraph office as the messenger boy. Soon after he became the secretary to the superintendent of the Pennsylvania Railroad, which in this time period would have been a great job considering the importance of the railways during this time....   [tags: Poverty, Working class, Wealth, Middle class]

Better Essays
1317 words (3.8 pages)

Essay about Wealth Inequality in the US with Sociological Viewpoints

- ... In 1971, if you were born to into the poorest 20%, you had a 9% chance of making it to the top 20% during your lifetime, and today, that chance remains unchanged. [7] What has changed is the difference between the top and bottom 20%. This is being driven by a number of factors, many of which bring contention between differing economist, politicians and analyst. Why is the wealth/income gap getting larger. The income gap has been widening partly because of globalization. A manufacturing worker is suddenly competing against third world country citizenry that will do the same work for a fraction of the wages....   [tags: distribution of assets, wealth or income]

Better Essays
1100 words (3.1 pages)

Tipping The Scale On Wealth Inequality Essay

- Tipping the Scale on Wealth Inequality On November 8th, 2014, The Economist published an online version of its printed article titled “Forget the 1%”, that compared some of the views found in Thomas Picketty’s highly acclaimed book, Capital in the Twenty-First Century (2013), to other recent studies. For example, the article mentioned a 2004 study that focused on estate-tax data performed by Wojciech Kopczuk of Columbia University and Emmanuel Saez of the University of California, Berkley. It also took notice of the results rendered by New York University student, Edward Wolff’s study of Federal Reserve data as it related to consumer finance, and finally the Economist included an up close l...   [tags: Wealth, Distribution of wealth, Income, Wealth]

Better Essays
1029 words (2.9 pages)

Essay on The Gospel Of Wealth : Andrew Carnegie

- The Gospel of Wealth Reality In Andrew Carnegie’s “The Gospel of Wealth” he outlines what the rich man’s responsibilities to the public is regarding his wealth. Andrew Carnegie was one of his times wealthiest men and wrote this in 1889. He states that, “Our duty is with what is practicable now-with the next step possible in our day and generation. It is criminal to waste our energies in endeavoring to uproot, when all we can profitably accomplish is to bend the universal tree of humanity a little in the direction most favorable to the production of the good fruit under existing circumstances (Carnegie 23-24).” In his writing he talks about the best way to dispose of the wealth one has acqu...   [tags: Wealth, Poverty, Distribution of wealth]

Better Essays
733 words (2.1 pages)