Wealth Created In American By Industrialization Essay

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During the time period of the late 19th century, the movement of industrialization increased at a more rapid rate than ever before. This new movement of industrialization paved the way for more businesses to experience great economic success than ever before. This new era of wealth prompted many people to have views on the matter. While there were several different people with ideas and opinions about the new overflowing wealth, Eugene V. Debs, Booker T. Washington, and Andrew Carnegie were among the most noted.

American Industrialist Andrew Carnegie was an extremely well known philanthropist. He made an immense fortune through his work within the steel industry. He believed in the idea of distribution of wealth. He supported his belief by giving away most of the fortune he had made over his years of work. Carnegie returned almost $300 million of his wealth to other people by establishing trust funds and making donations to other charitable organizations he supported. He also believed in predestination of wealth. It was his belief that it was of God’s will for him to be wealthy.

Eugene V. Debs became founder of the American Railway Union after years of hard work in the railroad industry. Debs ran as a presidential candidate for the socialist party in five different presidential elections. The socialist party had a platform that demanded state ownership of means of production and distribution of wealth by the government. Debs believed in nationalization of all natural resources, industries, and banks. He felt that the government had the right to control all property and collect any revenues that were produced. Debs, like Carnegie, also advocated distribution of the wealth but in a more aggressive approach. In Debs opinion, the way to handle the new wealth that had developed was for the government to collect and redistribute it to make everyone economically equal.

Booker T. Washington had a way of thinking that differed from both the philosophies of Debs and Carnegie. Washington urged African Americans and people with lower social and economic standings to accept their status...

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