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Everyone has his or her own ideas of how wealth should be distributed properly. Some people believe wealth should be left to family, left for public services, or become the property of others. Others believe that people should not have excess wealth, resulting in non-existent class distinctions. An alternative view is that wealth is not distributed; instead, the wealthy continue to grow wealthier while those in poverty can not escape it and fall further into a life of poverty. The beliefs discussed above come from three different writers. Those writers include Andrew Carnegie, Karl Marx, and Robert B. Reich. These writers all have different opinions on how wealth should be distributed properly.
Andrew Carnegie does not believe wealth is distributed properly (Carnegie 485). In fact, he has a few different ideas of how to distribute wealth. In Carnegie’s essay, “The Gospel of Wealth,” he states, “There are but three modes in which surplus wealth can be disposed of .” The first way he suggests to dispose of wealth is to pass it down in the family after the one with wealth passes away. The second way to dispose of wealth is, after death, distribute it for public uses. The third and final way one can dispose of wealth is by giving it to others while he or she is alive. This idea most reflects the idea of a communist in the case that the surplus wealth is distributed and becomes the property of many. All of the above are different ways that Andrew Carnegie felt wealth could be distributed among people. He says that the third and final way to distribute wealth is a lot like the beliefs of Karl Marx in the sense that Marx strongly believes in communism.
It is also believed that wealth should be non-existent. This is only possible if cl...
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...ealth should be for public usage after the owner passes. This shows that he believes the wealth should be used to benefit the public when it can no longer benefit the person who withheld it. The above are just a few reasons why Andrew Carnegie has the best views on the distribution of wealth.
Works Cited
Carnegie, Andrew. “The Gospel of Wealth/” A World of Ideas: Essential Readings for College Writers. Ed. Lee A. Jacobus. 9th ed. Boston:Bedford/St. Martin’s, 2013. 485-95. Print.
Marx, Karl. “The Communist Manifesto.” A World of Ideas: Essential Readings for College Writers. Ed. Lee A. Jacobus. 9th ed. Boston:Bedford/St. Martin’s, 2013. 456-76. Print.
Reich, Robert B. “Why the Rich Are Getting Richer and the Poor, Poorer.” A World of Ideas: Essential Readings for College Writers. Ed. Lee A. Jacobus. 9th ed. Boston:Bedford/St. Martin’s, 2013. 516-29. Print.
In a nutshell, it can be argued that in the event of serious economic developments, various people and groups held different views of what exactly a wealthy society should be. It is crystal clear that Andrew Carnegie and William Graham Sumner held same view on wealth accumulation whereas Henry George strongly advocated for policies that would enhance equality.
Carnegie was born into a poor working class family in Scotland. The massive changes occurring during the Industrial Revolution proved to be difficult on Carnegie’s father. The rapid changes from the need for craftsmen to industrialism caused his father to lose his weaving business. The Carnegie family was opposed to the idea of a privileged class, who gained their wealth simply by inheritance. This type of upbringing played a large factor in Andrew Carnegie’s future. Probably because of the hardships he watched his father go through; Carnegie would reject the idea of living in a life of poverty and instead did everything in his power to ens...
A wealthy person, with the desire to do well with their fortune, could benefit society in a number of ways. Carnegie has verbally laid a blueprint for the wealthy to build from. His message is simple: Work hard and you will have results; educate yourself, live a meaningful life, and bestow upon others the magnificent jewels life has to offer. He stresses the importance of doing charity during one’s lifetime, and states “…the man who dies leaving behind him millions of available wealth, which was his to administer during life, will pass away ‘unwept, unhonored, and unsung’…” (401). He is saying a wealthy person, with millions at their disposal, should spend their money on the betterment of society, during their lifetime, because it will benefit us all as a race.
The Gospel of Wealth is primarily about the dispersion of wealth and the responsibilities of those who have it. Carnegie thinks that inheritance is detrimental to society because it does not do any good for the inheritor or the community. Inheritance promotes laziness and the lack of a good work ethic does not teach the young sons of wealthy men to make money for themselves or help those in community they live in. Carnegie believes that charity is also bad and instead of handouts money should be given to those in a position to help the needy help themselves to be better citizens. It is the responsibility of the wealthy to use their surplus earnings to start foundations for open institutions that will benefit everyone. Men who only leave their money to the public after they are dead which makes it appear to say that if they could take the money with them they would. For this reason Carnegie is in support of Death taxes to encourage men to spend and use their money during their life. Carnegie says in his essay that a definite separation of the classes is productive for society and is very natural. If the classes were to become equal it would be a forced and change thus being revolution and not evolution...
The distribution of wealth is a basically the view on wealth, and the various members or groups in a society. Of course, it differs from the distribution of income in that it looks at the distribution of ownership of the assets in a society, rather that the current income of members of that society. Wealth is the amount of liabilities being taken away from the amount of assets. The world always calculates wealth base off ones’ income, but the do relates with a simple factor of expenses. Distribution of wealth can also be a luck factor, it can be based off family income and family inheritance things of that nature. Distribution of wealth is based of the nation, which is controlled by the government in many cases, like when it comes to taxes
There are many different ideologies in regard to how to deal with poverty in America. One such ideology is the redistribution of wealth. This idea is predominantly held by liberals, and on the surface it may sound like a good idea. However, so far it has proven to be ineffective. As a long term plan the redistribution of wealth will do nothing but harm the economy, and as a result the American people. Not only is it ineffective, but it is also immoral. The redistribution of wealth is most certainly not the answer to the problem of poverty in America.
In the essay, “Of the 1%, by the 1%, for the 1%” by Joseph E. Stiglitz, Stiglitz criticizes the wealthy, and how the economy protects them. He talks about how the one percent of Americans that are wealthy own everything. The government has reduced taxes for those wealthy people, but not working Americans that are poor. The government is giving more money to the wealthy, while taking opportunities from the less-educated. Everyone in America is not equal in society. America has changed dramatically. America has went from a society that everyone worked hard to earn money to an economy that is predictable. The rich know they will stay rich and their legacy will continue. The poor knows their hard working and still struggling legacy will continue.
Reich, Robert. “Why the Rich Are Getting Richer and the Poor Poorer.” The Work of Nations.
In his essay “Of the 1%, by the 1%, for the 1%”, Joseph Stiglitz, an American economist who won the 2001 Nobel Prize in economics, speaks about a problem that has been developing in America for years: the inequality gap of wealth. Stiglitz’s essay essentially goes into detail about how the problem of financial inequality is being neglected by the groups that the problem has the greatest impact on, the lower class and the middle class. Stiglitz also provides statistics to illustrate how the wealth distribution has changed from 25 years ago to modern day. Moreover Stiglitz mentions that the wealth gap alienating American society, and how the concentration of wealth is directed causes worse conditions to arise in the lower and middle classes.
Income inequality has been a noticeable problem for the past thirty years within the United States of America. There has been great speculation about why the gap between the rich and the poor has widened over time, yet many American citizens seem to put the blame on the United States government. Perhaps there is some truth to that, but it should also be understood that public opinion isn’t always correct. The United States government has the ability to narrow the wealth gap and has done so through particular benefits and policies they have put forward.
Wealth distribution in the US is a problem that everyone tends to blow off. Although, in my opinion, wealth distribution is one of the most important. Unequal distribution could lead to worse times in the future. The video, Wealth Inequality in America showed me how Americans views on what we think the wealth distribution looks like is completely inaccurate. The top one percent has over forty percent of the wealth distributed on the US. The top one percent also has half of our stocks, bonds, and mutual funds. Our idea of what our wealth distribution is no where near this. Therefore, we need to work towards a goal of equally distributing.
Money has been regularly and inexorably shifted from the bottom roughly 80 percent of the country to the top 20 percent, and mostly the very top 5 percent. Still, talk of income inequality, even if honestly actually meant, falls short. That is because the attention is too often on expecting to improve things in the short run by having CEOs make less and workers, more. But even with elevated salaries, there are typically so many workers to the one CEO — or even a handful of Top Corporation officers— that redistributed money would not amount to that much per person.” - Eric
What is wealth redistribution? “Redistribution of wealth is simply the transfer of wealth, property or income from one individual to another. This redistribution is caused by some social mechanism, such as nationalization, charity, taxation, welfare or tort law” (History and Debate of Redistribution). “Supporters of such redistribution argue that widespread economic inequality that exists in America and around the world is unjust and therefore immoral, and that it is the obligation of government to overcome such inequality by capping executive salaries and significantly raising taxes for everyone above a certain income level” (Ruggiero, 93). What is the wealth gap from the rich to the poor in America? “In 2013, families in the top 10 percent of the
“I don’t believe in a redistribution of wealth” (B. Schneider). One deserves all the earnings and acknowledgement for their hard work. People will strive to do the best they can achieve. People work with determination and success to build their lives and provide a future. A few people find that it is too much work for them to accomplish. For they want to do a little amount of work as they can for a great amount of wealth. For the hard working men and women, they want to enjoy the wealth they have earned. They do want to redistribute their wealth to those who do not deserve it. This is similar to the redistribution of student grades. A group a students work day and night to earn the grades they have obtained. They put in countless hours of study
This paper will examine the disparities that exists in wealth distribution between the rich and the poor. Taking into account the fact that most of the wealth in this world is owned only by a small percentage of the population, we will examine the potential application of wealth redistribution to bridge the gap between the wealthy and the poor and look at the implication both economically and socially. It is a fact that the rich feel they are entitled to keep what they have worked for and would therefore the idea of being taxed more with be met with resilience. To help determine the applicability of wealth redistribution we will apply ethical theories to arrive at meaningful conclusions without violation of human right and demoralization of investors.