The Gospel of Wealth

Carnegie proposed that the best way of dealing with the new phenomenon of wealth inequality was for the wealthy to redistribute their surplus means in a responsible and thoughtful manner. This approach was contrasted with traditional bequest (patrimony), where wealth is handed down to heirs, and other forms of bequest e.g. where wealth is willed to the state for public purposes. Carnegie argued that surplus wealth is put to best use (i.e. produces the greatest net benefit to society) when it is administered carefully by the wealthy.