The Gospel of Wealth

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"Wealth", more commonly known as "The Gospel of Wealth", is an essay written by Andrew Carnegie in June 1889 that describes the responsibility of philanthropy by the new upper class of self-made rich. The article was published in the North American Review, an opinion magazine for America's establishment. It was later published as "The Gospel of Wealth" in The Pall Mall Gazette. Carnegie proposes that the best way to address the new phenomenon of wealth inequality is for the wealthy to use their surplus means responsibly and thoughtfully (similar to the concept of noblesse oblige). This approach is contrasted with traditional bequest (patrimony), in which wealth is handed down to heirs, and with other forms of bequest, e.g., where wealth is willed to the state for public purposes. Benjamin Soskis, a historian of philanthropy, refers to the article as the 'urtext' of modern philanthropy. Carnegie argues that surplus wealth is put to best use (i.e., produces the greatest net benefit to society...

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