Essay on Comparative View of Wealth Accumulation in America

Essay on Comparative View of Wealth Accumulation in America

Length: 1058 words (3 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

The era that marked the end of civil war and the beginning of the twentieth century in the united states of America was coupled with enormous economic and industrial developments that attracted diverse views and different arguments on what exactly acquisition of wealth implied on the social classes in the society. It was during this time that the Marxist and those who embraced his ideologies came out strongly to argue their position on what industrial revolution should imply in an economic world like America. In fact, there was a rapid rise in the gross national product of the United States between 1874 and 1883. This actually sparked remarkable consequences on the political, social and economic impacts. In fact, the social rejoinder to industrialization had extensive consequences on the American society. This led to the emergence of social reform movements to discourse on the needs of the industrialized society. Various theories were developed to rationalize the widening gap between the rich and the poor. Various reformers like Andrew Carnegie, Henry George and William Graham Sumner perceived the view on the obligation of the wealthy differently. This paper seeks to address on the different views held by these prominent people during this time of historical transformations.
The view on the wealthy in the society was different from one person to another and this actually led to publications and criticisms one after another. Actually the discovery of new economic opportunities made United States to be viewed as a land of economic glory and prosperity. This in turn attracted more people from different parts of the world. Ironically, some of the optimistic immigrants got overly involved relentless poverty and had to struggle for cont...


... middle of paper ...


...at George Henry, like many other reformers of the time believed that efforts to create a balance in the society should not compromise or interfere with any individual or a particular class in the society (Johnson).
In a nutshell, it can be argued that in the event of serious economic developments, various people and groups held different views of what exactly a wealthy society should be. It is crystal clear that Andrew Carnegie and William Graham Sumner held same view on wealth accumulation whereas Henry George strongly advocated for policies that would enhance equality.


Works Cited

jlopez007. Andrew-Carnegie-Vs-Henry-George. September 2013. 31 January 2014 .
Johnson, Michael P. Reading the American Past. Bedford: St. Martins, 2012.
Sumner, William Graham. What Social Classes Owe to Each Other. New York: Harper & Brothers, 1883.

Need Writing Help?

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

Check your paper »

The Effects of Livestock Wealth and Reproductive Success on the Mukogodo Men

- The Effects of Livestock Wealth and Reproductive Success on the Mukogodo Men Many studies have been conducted pertaining to various Maa-speaking societies. Numerous correlations have been documented in lieu of the speculation that “success in achieving culturally defined goals should tend to correlate with reproductive success” [(Irons 1979: 258) from (Cronk 1991: 345).] The article revolves mainly around the Mukogodo, found in north central Kenya (target universe). During the early 20th century this group was arranged into four clans and thirteen patrilineages, coming into more and more contact with Maa-speaking pastoralists, adding pressure to their day to day, traditional, way of life....   [tags: Mukogodo Culture Kenya Lee Cronk Essays]

Free Essays
2354 words (6.7 pages)

Extreme Wealth Is Bad For Everyone- Especially The Wealthy Essay

- In the article “Extreme Wealth is Bad for Everyone- Especially the Wealthy” published on November 12, 2014 for The New Republic, the main argument is whether wealth is beneficial for people in terms of society, happiness, and life or not. Geared towards the common public, based on the fact that the source is for commercial entertainment, Michael Lewis successfully points out that wealth is indeed a negative influence on people’s lives. However, Lewis would have struggled with successfully conveying his ideas on the effects of wealth with a more educated audience because he failed to point out both sides of the argument....   [tags: Wealth, Poverty, Concept, Capital accumulation]

Strong Essays
1272 words (3.6 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,]

Strong Essays
512 words (1.5 pages)

The Theory Of Social Structures Of Accumulation ( Ssa ) Essay

- Gordon’s paper sets the stage for the conversation of Social Structures of Accumulation (SSA). The theory of SSA’s is a long wave economic theory, which implies that there will always be periods of rapid economic growth and high profitability, followed by a period of economic crisis. According to Gordon, once a new SSA is set up, there will be a period of Rapid economic expansion. However, this SSA will be dependent and vulnerable to International exchange rates, relative power (internationally, but also between labour and capital) and other internal and external shocks and stresses....   [tags: Economics, Economic growth, Capital accumulation]

Strong Essays
1023 words (2.9 pages)

Wealth Vs Wealth Essay

- We are well aware that there are wealthy people, and poorer people in today’s world. People strive to be wealthy, but what separates the wealthy from the poor. There are two mindsets between the two groups that holds the key to their failure or success. If notice closely, you will see exactly why the wealthy, and successful people are capable of living up to their full potential, and why the poverty are living in a poorer environment. In order to be wealthy and succeed in life, you don’t need a miracle, nor do you need a lot of money to get there....   [tags: Wealth, Poverty, Failure, Thought, Success, Mind]

Strong Essays
715 words (2 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]

Strong Essays
733 words (2.1 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, ]

Strong Essays
824 words (2.4 pages)

The Social Problems Of Poverty And Wealth Essay example

- The Social Problems of Poverty and Wealth The economy in the United States is undoubtedly unequally distributed and unstable. Social stratification, the society’s categorization of people in a hierarchy, is to blame for this. Americans subscribe to the perception that everyone should be placed in a certain group for their financial status; high class, meaning the wealthy individuals, or the lower class, the individuals suffering from poverty. Both social classes’ contribute negatively to the people involved....   [tags: Poverty, Wealth, Sociology, Social class]

Strong Essays
759 words (2.2 pages)

The Wealth Effect Essay

- The Wealth Effect The "Wealth Effect" refers to the propensity of people to spend more if they have more assets. The premise is that when the value of equities rises so does our wealth and disposable income, thus we feel more comfortable about spending. The wealth effect has helped power the US economy over 1999 and part of 2000, but what happens to the economy if the market tanks. The Federal Reserve has reported that for every $1 billion in increase in the value of equities, Americans will spend an additional $40 million a year....   [tags: Wealth Effect Stock Market Economy Essays]

Strong Essays
3906 words (11.2 pages)

Essay on COMPARATIVE

- COMPARATIVE Homer Winslow and Jules Breton, two men painting the canvas of the nineteenth century. Comparing their art gives birth to numerous differences and unique qualities hidden within their work and lives. Dressing For The Carnival, Homer 1877, and The Weeders, Breton 1868, are fine examples of their careers as artists. "Beyond the aesthetic merits of his work, Breton is significant as the painter whose vision of French rural life best embodies a set of late nineteenth- century ideals: the charm and wholesomeness of rustic ways, the nobility of living close to the soil, the beauty of preindustrial landscape, and the social harmony of the agrarian community." ( Sturges) Breton’s work...   [tags: essays papers]

Free Essays
1723 words (4.9 pages)