The Gospel of Wealth
Carnegie's influential essay on the responsibilities of the wealthy to society. The philosophy that shaped modern philanthropy.
Listen on SWOO.About this book
The Gospel of Wealth, originally published as an essay in 1889, is Andrew Carnegie's most famous philosophical work. In it, he argues that the wealthy have a moral obligation to distribute their fortunes for the public good during their lifetimes.
Carnegie contends that capitalism naturally creates inequality, but this inequality benefits society by concentrating wealth in the hands of those most capable of using it wisely. However, he insists the rich must act as trustees of wealth, using their money to create lasting institutions—libraries, universities, hospitals—that help others help themselves.
The essay's famous line— "The man who dies rich dies disgraced"—captured Carnegie's conviction. He practiced what he preached, giving away over 90% of his fortune (equivalent to billions today), funding 2,509 libraries and numerous institutions. The Gospel of Wealth influenced generations of philanthropists, from Rockefeller to modern billionaires, establishing the expectation that great wealth carries social responsibility.
