A Level History - America - Practice Exam

What was the focus of Andrew Carnegie's "Gospel of Wealth"?

1. The necessity of wealth accumulation

2. The importance of philanthropy and giving back to society

3. The justification for industrial monopolies

4. The promotion of individual entrepreneurship

The correct answer is: The importance of philanthropy and giving back to society

Andrew Carnegie's "Gospel of Wealth" centers on the importance of philanthropy and the moral obligations of the wealthy to use their riches for the greater benefit of society. In his writings, Carnegie argues that those who accumulate great wealth should view themselves as stewards of their fortunes. He emphasizes that the affluent have a responsibility to contribute to the welfare of others and to help improve the community, especially through education and cultural institutions. Carnegie believed that wealth, rather than being hoarded or passed down across generations, should be released back into society in meaningful ways, such as funding libraries, schools, and healthcare. His perspective was rooted in the belief that while the accumulation of wealth is justified, it is the use of that wealth for the betterment of humanity that is truly important. This vision has influenced countless philanthropic efforts and continues to resonate in discussions of wealth and responsibility today.