TD CARNEGIE 1889

calvinist

An adherent of the* Protestant theological* system of John Calvin and his successors:

10) Explain <survival of the fittest > §6

*justify imbalances of power between individuals, races, and nations because they consider some people more fit to survive than others outcome of competition between social groups. * * Spencer argued that through competition social evolution would automatically produce prosperity and personal liberty unparalleled in human history Spencer concluded that *social evolution would eliminate the less fit or weaker individuals.*

Carnegie he writes, this great inequality is the natural way of the world, a demonstration of the self-evident principles of 'survival of the fittest' and advancement of the best able

*n a free society the people of ability and ambition naturally prosper while others lag.*

7) Carnegie's interest at the end of his life ?

After Carnegie sold his steel company, the diminutive titan, who stood 5'3", retired from business and devoted himself full-time to philanthropy. In 1889, he had penned an essay, "The Gospel of Wealth," in which he stated that the rich have "a moral obligation to distribute [their money] in ways that promote the welfare and happiness of the common man." Carnegie also said that "The man who dies thus rich dies disgraced." Carnegie eventually gave away some $350 million, which represented the bulk of his wealth. Among his philanthropic activities, he funded the establishment of more than 2,500 public libraries around the globe, donated more than 7,600 organs to churches worldwide and endowed organizations (many still in existence today) dedicated to research in science, education, world peace and other causes

*Inequality, while regrettable, was also essential as an incentive (something that encourages you to do something) to achievement, to competition, and to progress.* Rather than seeking the impossible goal of economic equality,

Carnegie proposed the attainable objective of promoting equality of opportunity. Each individual would be allowed to find his place -- and his just rewards -- in the industrial hierarchy, each according to his ability *Their struggle to achieve would, generation after generation, bring the best and the brightest to the top.*

16) Explain the critique of communism §9 Because the communism re-destribute the wealth , but not giving the money to circulate in the masses

He argued that it was an inevitable law of history that civilization should advance in such a way as to create a small class of business owners with far greater wealth than ordinary workers. Efforts to change this, as proposed by socialists, communists, and anarchists (people who advocated an end to formal government structures), were doomed to failure—because they went against the natural trends of history.

As part of his justification for accumulating a large fortune, Carnegie also advocated that wealthy individuals should give away their money during their lifetimes in order to benefit society.

He was especially intent that such gifts seldom be given directly to individuals in need (as charity), which in his view would simply lead poor people to spend money in a wasteful manner ( passing through the hands of the few, can be made a much more potent force for the elevation of our race than if it had been distributed in small sums to the people themselves. ). Rather he believed the money should go to institutions that would improve people's lives. Carnegie himself chose to give money to build public libraries, providing funding to establish .libraries in almost every state, and overseas as well. The talent for management is rare, so good manager should be rich

Prior to, and during the American Civil War, he was also a member of the *anti-slavery wing of the Democratic Party.* *His loss in the presidential election helped to bring about the end of Reconstruction in the South and the withdrawal of federal troops from the area.*

He was never married and had no children during his lifetime. He was renowned for rooting out corruption, and for his personal integrity. Most of his estate was bequeathed to New York City to establish the New York Public Library

Andrew Carnegie, whose life became a rags-to-riches story, was born into modest circumstances on November 25, 1835, in, Scotland

In 1848, the Carnegie family moved to America in search of better economic opportunities and settled in Allegheny City soon found employment as a bobbin boy at a cotton factory, earning $1.20 a week. Carnegie family consider himself as small company working for a big family ,sub- contractors. They work to the machines of the boss, they are at the same category as boss, they are protestants( puritans) the* church of Scotland* ( Kirk) Presbyterians( above the level of local prest there rest nothing) meanwhile the church of England is not the same model. They have *Calvinistic structure, * Poor but belonging to family considering them enterpreneurs, protestant ruts Calvinistic view

Scottish-born Andrew Carnegie (1835-1919) was an American industrialist who amassed a fortune in the steel industry then became a major philanthropist. Carnegie worked in a* Pittsburgh cotton factory *. While working for the railroad, he invested in various ventures, including iron and oil companies, and made his first fortune by the time he was in his early 30s.

In the early 1870s, he entered the steel business, and over the next two decades became a dominant force in the industry. In 1901, he sold the Carnegie Steel Company to banker John Pierpont Morgan for $480 million.

One of the most powerful bankers of his era, J.P. (John Pierpont) Morgan (1837-1913) financed railroads and helped organize U.S. Steel, General Electric and other major corporations

J.P. Morgan & Company used his influence to help stabilize American financial markets during several economic crises, including the panic of 1907. that he *had too much power and was accused of manipulating the nation's financial system for his own gain.* The Gilded Age titan spent a significant portion of his wealth amassing a vast art collection.

Darwinism the perfect rationale for the free-enterprise system'. Use of Darwinism to justify *ruthless capitalism "scientific" justification for the excesses of industrial capitalism*

Many Darwinians concluded that* for a business to survive, it must follow the laws of Darwinism * , and to ignore them could lead to extinction just as occurs in the biological world

the financial panic of 1907, Morgan held a meeting of the country's top financiers at his New York City home and convinced them to bail out (to rescue somebody from a difficult situation) various financial institutions in order to stabilize the markets.

Morgan initially was widely commended for leading Wall Street out of the 1907 financial crisis;

19) What is the link with Puritans roots?

Once you have your money, there is a strong social pressure to share your wealth, find a social cause and devote yourself and your money to it. This mindset descends from nation's Puritan roots, which held that if success is an act of recognition by God, than one should, as an individual "pay back" this success to society, particularly through philanthropic actions.

Social Darwinism, term coined in the late 19th century to describe the idea that humans, like animals and plants,* compete in a struggle for existence in which natural selection results in "survival of the fittest." * Social Darwinists base their beliefs on theories of evolution developed by British naturalist Charles Darwin.

Some social Darwinists argue that governments should *not interfere with human competition by attempting to regulate the economy or cure social ills such as poverty.* * Instead, they advocate a laissez-faire political and economic system that favors competition and self-interest in social and business affairs.*

( 1809-82), English natural historian and geologist, proponent of the theory of evolution by natural selection;

The process whereby organisms better adapted to their environment tend to survive and produce more offspring. The theory of its action was first fully expounded by Charles Darwin, and it is now regarded as be the main process that brings about evolution.

Gospel of the Wealth

The record of Christ's life and teaching in the first four books of the New Testament. Each of the first four books of the New Testament set of principles or ideas that someone believes in: The gospel of wealth is the new testament of the riches. It's a contradictory to have gospel and wealth in the same time, you don't meandle God and money, in theory if you are too rich it will be too difficult to pass.

11) How does the <law of competition >work ?

Through competition social evolution would automatically produce prosperity and personal liberty unparalleled in human history Spencer concluded that social evolution would eliminate the less fit or weaker individuals. Their struggle to achieve would, generation after generation, bring the best and the brightest to the top.

During the late 19th century, a period when the U.S. railroad industry experienced rapid overexpansion and heated competition (the nation's first transcontinental rail line was completed in 1869), Morgan was heavily involved in reorganizing and consolidating a number of financially troubled railroads.

United States had no central bank so he used his influence to help save the nation from disaster during several economic crises.

After leaving his post with the railroad in 1865, Carnegie continued his ascent in the business world. With the U.S. railroad industry then entering a period of rapid growth,

he expanded his railroad-related investments and founded such ventures as an iron bridge building company and a telegraph firm, often using his connections to win insider contracts. By the time he was in his early 30s, Carnegie had become a very wealthy man.

Samuel Jones Tilden (February 9, 1814 - August 4, 1886) was the Democratic candidate for the United States presidency in the disputed election of 1876

he was a Free Soil Democrat who worked closely with the New York City business community, led the fight against the corruption of Tammany Hall, and fought to keep taxes low.

On the one hand, the income and inheritance tax would prevent the wealthy from having undue advantages; He did not believe in leaving great sums of money to family heirs, for it would likely ruin their work ethic. And he did not believe in bequeathing money after death; indeed, he supported very high estate taxes

on the other, public and private institutions would educationally empower the masses. Every generation would have to start anew with equal opportunities. Their struggle to achieve would, generation after generation, bring the best and the brightest to the top.

Carnegie articulated his philosophy at a time when *inequality had reached unprecedented levels * in the United States. In an age of excess, titans of industry enjoyed lives of startling opulence;

ordinary people endured low wages, dangerous working conditions, and overcrowded, unhealthy living quarters. He argued—as some still do—that *inequality on this scale is an unavoidable condition of the free market system and that philanthropy is one effective means of ameliorating the conditions the market produces*

Philanthropy Modern philanthropy would be efficient, Philanthropy would turn its attention to regional, national, and even global problems, Philanthropy would be governed by rational analysis and the sober calculus of the laboratory and boardroom,

whereas most charitable giving was wasteful while charity's scope was parochial. whereas most charitable giving was prompted by sentimental impulses, and was even, at heart, a selfish endeavor