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Excerpt from Andrew Carnegie, “The Gospel of Wealth,” 1889

There remains, then, only one mode of using great fortunes; but in this we have the true antidote for the temporary unequal distribution of wealth, the reconciliation of the rich and the poor—a reign of harmony—another ideal, differing, indeed, from that of the Communist in requiring only the further evolution of existing conditions, not the total overthrow of our civilization. It is founded upon the most intense individualism. . . .

Under its sway we shall have an ideal State, in which the surplus wealth of the few will become, in the best sense, property of the many, because administering for the common good; and this wealth, passes through the hands of the few, can be made much more potent force for the elevation of our race than if distributed in small sums to the people themselves. Even the poorest can be made to see this, and to agree that great sums gathered by some of their fellow-citizens spent for public purposes, from which the masses reap the principal benefit, are more valuable to them than if scattered among themselves in trifling amounts through the course of many years. . . .

Thus is the problem of Rich and Poor to be solved. The laws of accumulation will be left free; the laws of distribution free. Individualism will continue, but the millionaire will be but a trustee for the poor, intrusted for a season with a great part of the increased wealth of the community, but administering it for the community far better than it could or would have done for itself. The best minds will thus have reached a stage in the development of the race in which it is clearly seen that there is no mode of disposing of surplus wealth creditable to thoughtful and earnest men into whose hands it flows, save by using it year by year for the general good. . . .

Use the excerpt from Andrew Carnegie’s “The Gospel of Wealth” to answer the question.

How does Carnegie’s argument support the rise of trusts and monopolies?

A.
He suggests that those who attain such success are entitled to do so and are best able to help others.

B.
He says that monopoly is the natural end of competition and competition is the only way to fight communism.

C.
He claims that poverty and disparity are a natural part of any civilization and must be accepted.

D.
He argues that a concentration of wealth and resources inspires entrepreneurship and economic growth.

D. He argues that a concentration of wealth and resources inspires entrepreneurship and economic growth.

D. Carnegie's argument supports the rise of trusts and monopolies by suggesting that the concentration of wealth and resources, in the hands of a few individuals, can lead to the administration of that wealth for the greater benefit of the community. He argues that the wealthy can use their fortunes in a way that is more effective for the common good than if the wealth were distributed in small amounts to the masses. This idea implies that the accumulation of wealth by a few, in the form of trusts and monopolies, allows for greater economic growth and the promotion of entrepreneurship.

The correct answer is D. Carnegie argues in the excerpt that the wealthy individuals should serve as trustees for the poor and use their accumulated wealth for the general good of society. He believes that the concentration of wealth and resources in the hands of a few can be used to stimulate entrepreneurship and economic growth. This aligns with the rise of trusts and monopolies, as these large-scale enterprises often emerged to dominate industries and control the market, resulting in economic growth and development.