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

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Andrew Carnegie famously said that it was a disgrace to die rich. He believed that wealthy individuals such as himself had a moral responsibility to plow back their surplus wealth into society through large-scale philanthropic ventures. To Carnegie, this was a much more worthwhile use of wealth than merely spending...

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Andrew Carnegie famously said that it was a disgrace to die rich. He believed that wealthy individuals such as himself had a moral responsibility to plow back their surplus wealth into society through large-scale philanthropic ventures. To Carnegie, this was a much more worthwhile use of wealth than merely spending it on all the trappings of a lavish lifestyle.

At the same time, Carnegie's ideal of philanthropy was one whose overriding purpose was to enable the poor and underprivileged to improve their lives. Carnegie didn't believe in simply handing out money to the poor; as far as he was concerned, that was just wasteful. Instead, he argued that charitable funds should be spent wisely, used to endow institutions such as libraries and colleges that could act as the driver of social mobility, helping the poor to pull themselves up by their boot-straps, as Carnegie himself had done.

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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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