Carnegie's Wealth Distribution Solution: Outdated or Outstanding?
1120 Words5 Pages
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...
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...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.