Question

According to Andrew Carnegie's "Gospel of Wealth", what should rich people do with their money before they die?
A.Invest it to further their family's wealth.
B.Give it to political parties and favored candidates to protect their financial advantages and interests.
C.Make sure all of it is inherited by children, who will use that advantage to maintain their high standard of living.
D.Give all of their money to churches and charities, in order to directly aid the poor.
E.Give as much of their fortune to institutions that would enrich society and could be used by enterprising individuals to improve their economic standing.

Answer 1

Hint: The "Gospel of Wealth" refers to an article that was written by Andrew Carnegie in the year 1889. It talks on how rich people have the responsibility of being like a philanthropist because they have surplus money and therefore they can help the poor.

Complete answer: Carnegie described his belief that it was the moral responsibility of the rich (especially the self-made ones) for tackling the issues of wealth inequality by giving their extra wealth to those who were less fortunate than them
 As per Carnegie, the duty of a wealthy man consists of three parts. To perform these, he wants the government to make wealth non inheritable through means of taxes, and give away the fortunes so as to benefit the public.
Many wealthy persons have also contributed charity, but Carnegie was perhaps the first one to state publicly that it's the moral obligation of the rich to give away their fortunes. In the year 1889, he had written The Gospel of Wealth, where he asserted that all personal wealth beyond what is required to supply the needs of one's family should be often regarded as a trust fund to be administered for the benefit of the community.

Hence, Option A is correct.

Note: Carnegie's second mode is about an individual to leave wealth for use by the public on his death. A rich person's moral duty, in Carnegie's view, is hence ,to live modestly, provide moderately for the dependants, and administer all the additional wealth in the manner which produces the most beneficial results for the community in need.