Andrew Carnegie’s And John D Rockefeller’s Perception On The Distribution Of Wealth

Andrew Carnegie was an industrialist, philanthropist and founder of Carnegie Steel. He was the founder of Carnegie Steel and wrote The Gospel of Wealth. His life was full of success. The Gospel of Wealth states that wealthy people should use their wealth to improve society, not only for themselves. Carnegie believed that uneven wealth distribution was temporary. But it remains a significant problem today. The void is filled by entrepreneurs and industrialists such as John D. Rockefeller, Mark Zuckerberg, and others who give back to those most in need. Due to the rich’s position in the corporate hierarchy, there is still an unequal distribution. Andrew Carnegie’s The Gospel of Wealth focuses on the huge wealth gap that has resulted from industrialization. Carnegie also outlines his beliefs about why the wealthy should help the less fortunate. Carnegie believes society would be better if more people were wealthy. Carnegie explains how wealthy men can make use of excess money to help the community and the less fortunate. Carnegie explains how money can be given to the decedent’s family, public purposes, or can be managed by the possessors during their lives (Carnegie). Carnegie does not believe that giving away excess wealth is good for society. He explains however how it can only be beneficial to those who are worthy. Carnegie believes that it is only fair to reward those who are successful. He states that wealth distribution can only be beneficial to society’s wellbeing if it is given in a way that makes people worthy. This is important in today’s world as the wealth gap remains large between the rich & the poor. Andrew Carnegie believed that inequality in wealth distribution was temporary, but it will continue to exist. Andrew Carnegie was right to distribute his wealth so that the gap can be closed. John D. Rockefeller was an industrial captain. This means that his fortune made a positive contribution to society. Rockefeller’s Standard oil Company was instrumental in influencing America’s industrial development. His company’s wealth made him a philanthropist. His large earnings were donated to charities, which had a positive and beneficial impact on the community. The Rockefeller Organization was founded in 1913 “to promote human well-being throughout the globe” (Rockefeller). The Rockefeller Foundation is still active and continues to solve problems across the globe. Rockefeller contributed more than half a million dollars to various educational and religious causes. This is relevant to the world of today, where there is still an egregious gap between the richest and the poor. Rockefeller attempted to fill this gap by giving back his wealth and access to the poor. Mark Zuckerberg, an entrepreneur, uses his excess wealth to distribute his money, much like Carnegie or Rockefeller. With the invention of Facebook, Zuckerberg made a significant technological impact on the world. It made communication much easier and was easily accessible. Zuckerberg soon became one the richest men on earth. He now has a net worth of $74 billion. This is equivalent to an average of $5.97m per day. Zuckerberg promises to donate 99% to charity from his Facebook shares. The Zuckerberg Initiative was also started by him and his wife. It “aims at creating education reform, immigration reform and housing affordability.” Zuckerberg’s wealth is used to bridge the gap between rich and poor. Through his organizations, he gives back to the community in the same way as Carnegie and Rockefeller. Because of the power hierarchy within the business sector, inequality in wealth distribution is still a problem. Many of the wealth, both those of our time as well as those of the gilded Age, are philanthropists. They give some of what they earn to those in greatest need.

Carnegie believed that inequality in wealth distribution was temporary, but it is still a problem.