Carnegie proposed that the best way of dealing with the new phenomenon of wealth inequality was for the wealthy to redistribute their surplus means in a responsible and thoughtful manner.
This approach was contrasted with traditional bequest (patrimony), where wealth is handed down to heirs, and other forms of bequest e.g.
These leaders were not only skilled but also very much concerned about the society and the people around them.
United States of America experienced drastic change during the period of 1800-1900.
capitalism debate regarding their for-profit companies. They are at the center of the debate in terms of their non-profit companies and how social welfare should be handled.
Marx would say 100% state directed; Carnegie will say 100% directed by individuals.This transition of the nation is due to the hopes and aspiration that certain young people of the nation had. They laid the foundation for the present greatest industries that include steel, shipping, oil, and finance.These people were determined, innovative, and young, These people include Cornelius Vanderbilt, John D. They are considered to be captains of the industry, since through their outstanding business skills they were able to transform the American economy.freely gave away most of their fortunes to charitable and philanthropic causes.These men, who amassed fortunes taking America from post-Civil War to world super power, are often looked back on as corrupt and at the core of worker exploitation, but their story is much more complex than that.where wealth is willed to the state for public purposes.TIP: Carnegie believed in a 100% estate tax that forced the rich to direct their money, less it be directed by the state as charity.However, this was not an acceptable reason since it was not necessary for cutting wages of the employees to purchase the resources.Robber Barons refer to the people who were negative in their thought and action.It includes, Vanderbilt and Rockefeller who were ready to take any risk and go to any extreme in order to accumulate wealth.Robber Barons were known for their inhuman treatment of employees and the methods that they used.