Gospel of Wealth

In 1889, steel magnate Andrew Carnegie wrote what would become one of the most influential essays in American history. The Gospel of Wealth argues that the richest men in America bear an almost sacred duty to redistribute their fortunes during their lifetimes, not through charity that creates dependence, but through investments in institutions that help the poor help themselves: libraries, universities, hospitals, and public spaces. Carnegie believed wealth was a public trust, and that leaving great fortunes to heirs was both a moral failure and a social danger. The essay sparked furious debate among the robber barons and working-class Americans alike, and its principles guided Carnegie's own giving to the tune of over 3,000 public libraries worldwide. More than a century later, Carnegie's philosophy remains essential reading for anyone grappling with the moral obligations of wealth, the limits of laissez-faire capitalism, and the role of philanthropy in a democratic society.