Andrew Carnegie's and John D Rockefeller's Perception on The Distribution of Wealth

Introduction

Andrew Carnegie was an industrialist and philanthropist throughout the Gilded Age. He founded Carnegie Steel, wrote The Gospel of Wealth, and made a fortune within his lifetime. The Gospel of Wealth states that the wealthy should use their money for the betterment of society and not just for themselves. Although Carnegie believed that the unequal distribution of wealth was a temporary matter, it remains a significant issue, making the gap between the rich and the poor prominent to this day. Industrialists and entrepreneurs like John D. Rockefeller and Mark Zuckerberg help fill the void by giving back to those who need it most. The unequal distribution of wealth persists today due to the wealthy's hierarchy of power within the business industry.

Andrew Carnegie's Perspective on Wealth Distribution

Andrew Carnegie's The Gospel of Wealth addresses the large gap between the rich and the poor due to industrialization and outlines Carnegie's beliefs on why the wealthy should distribute their money to the less fortunate. Carnegie argues that society as a whole would improve if the rich were to do this, potentially mending the gap between economic classes (Carnegie, 1889). To fix this void, Carnegie explains what wealthy individuals could do with excess money and how they can use this surplus wealth to benefit society and those less fortunate. He suggests three main options: leaving wealth to one's descendants, bequeathing it for public purposes, or administering it during their lifetime (Carnegie, 1889).

Although Carnegie supports distributing surplus wealth for community benefit, he insists it should only go to deserving individuals. He believes that wealth is a result of hard work, implying that those who are not wealthy may not have worked hard enough. According to him, distributing excess wealth is effective only if given to people worthy of receiving it rather than undeserving recipients (Carnegie, 1889). This principle still resonates today as there remains a significant gap in wealth distribution.

John D. Rockefeller's Approach

Similar to Andrew Carnegie, John D. Rockefeller used his resources to address wealth inequality. As a captain of industry, his fortune positively impacted society through philanthropy (Chernow, 1998). Rockefeller founded Standard Oil Company, amassing great wealth which he later used for charitable purposes. In 1913, he established The Rockefeller Foundation "to promote the well-being of humanity throughout the world" (Rockefeller Foundation), addressing issues such as economic mobility and health.

Rockefeller donated more than half a billion dollars to various educational, religious, and scientific causes (Chernow, 1998). His efforts aimed at reducing societal disparities remain relevant today as financial inequality continues.

Mark Zuckerberg's Modern Contribution

Entrepreneur Mark Zuckerberg also leverages his surplus wealth similarly to Carnegie and Rockefeller. His technological contribution through Facebook revolutionized global communication (Vogelstein, 2018). Achieving immense success led Zuckerberg to pledge 99% of his Facebook shares to charity.

Together with his wife Priscilla Chan, they initiated The Chan Zuckerberg Initiative focused on education reform, biomedical advancements, immigration reform, and housing affordability (Sheffer & Vogelstein). By reinvesting into community welfare through these projects — akin yet distinct from earlier philanthropists—Zuckerberg seeks actively addressing systemic imbalances present even now among socioeconomic classes.

Conclusion

The ongoing issue related directly reflects hierarchical power dynamics inherent within modern-day business industries dominated largely by concentrated capital held amongst few elite figures across generations past-present-future alike—the cumulative effects persisting indefinitely until addressed fundamentally anew within prevailing societal frameworks globally overwrought despite periodic ameliorative measures enacted voluntarily albeit insufficiently under current paradigms entrenched deep-rootedly worldwide.

Citations:

• Carnegie A., "The Gospel Of Wealth." North American Review vol.ccclxxiii No.Dcccxvii(1889):653–664.
• Chernow R., Titan: The Life Of John D.Rockefeller Sr., Random House Publishing Group(1998).
• "The Rockefeller Foundation." Rockfound.org.
• Sheffer B.,& Vogelstein F.B.Zucked: Waking Up To The Facebook Catastrophe, Penguin Publishing Group(2018).