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Essay / The Gospel of Wealth, by Andrew Carnegie - 960
In “The Gospel of Wealth,” Andrew Carnegie argues that it is the duty of the wealthy entrepreneur who has amassed a great fortune during his lifetime , to give back to them. less lucky. Greed and selfishness may force some readers to view these arguments as absurd; However, greed is a key ingredient to successful competition. This forces competitors to perform at a higher level than their peers in hopes of obtaining more money and individual wealth. A capitalist society that allows this wealth to accumulate in the hands of a few could be beneficial to the human race because it could foster competition between businesses; it could guarantee health care for all, regardless of social status, and parks and recreation could be built for the enjoyment of society. Carnegie states: "Under the law of competition, the employer of thousands of people is forced to the strictest economies, among which the rates paid to work occupy an important place, and there is often friction between employer and employees, between capital and labor, between rich and poor” (393). It is this competitive nature that allows the hardest-working individuals to rise above their peers, create personal wealth, and continue to accumulate wealth. Competition is beneficial to capitalism. A company can produce an item and sell the item Morris 2 at a price set by the company to make a profit. Greed can have a high profit margin, so the return on the item is substantial for the company. If another company can make a similar item and sell it at a lower price, while still making a profit, the company and the business will benefit. This forces the company with the highest profit margin to find a more profitable way to produce the item, or to reduce its pr...... middle of paper ... or be responsible for the assembly line . Aspirants could rise and lasting good would occur. A wealthy person, willing to do well with their wealth, could benefit society in many ways. Carnegie verbally established a model for the wealthy to build upon. His message is simple: work hard and you will get results; educate yourself, live a meaningful life, and gift others with the magnificent gems that life has to offer. He emphasizes the importance of doing charity during one's life and states: "...the man who dies leaving behind him millions of disposable wealth, which it was his responsibility to administer during his life, will die "without tears, without honor and without glory”…” (401). He says that a rich person, with millions at his disposal, should spend his money to improve society, during his lifetime, because it will benefit all of us as a race..