"This, then, is held to be the duty of the man of Wealth: First, to set an example of modest, unostentatious living, shunning display or extravagance... and after doing so to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer... to produce the most beneficial results for the community." — Andrew Carnegie, "The Gospel of Wealth," 1889
Compared to the Populist Party's 1892 Omaha Platform, Carnegie's argument differs primarily in that it
- A
Calls for free coinage of silver to expand the money supply
- B
Demands government ownership of the railroads and telegraphs
- C
Identifies industrial monopoly as the root cause of poverty
- Dcheck_circle
Locates the remedy for inequality in private stewardship rather than government action
Explanation
Populists demanded structural government remedies (silver coinage, public ownership of railroads, graduated income tax). Carnegie's solution was voluntary, private, and individual: the wealthy man as trustee for the community.