In the document "Wealth" by Andrew Carnegie, what ways does he say wealth can be used?

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rrteacher | College Teacher | (Level 2) Educator Emeritus

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Basically, he argues that while business leaders should be left free to pursue wealth with few restrictions, that wealth should be used to better the whole community. He thought the rich should ensure that their riches should make their way back into society, not so much as charity but more as investments in communities, so that individuals could better themselves, as he thought he had. The most obvious example of this philosophy put into practice is the endowment of Carnegie libraries across America. Carnegie had been basically self-educated through access to a wealthy benefactor's library and wanted to create similar opportunities for others. So he set up a fund that helped pay for the construction of free public libraries across the country. He also advocated a rigorous estate tax on inheritances, which would ensure that money went back into the public, and stayed out of the hands of heirs, who, in his opinion, hadn't really earned it.

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