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In "The Gospel of Wealth," Andrew Carnegie argued that the wealthy have a moral obligation to use their riches for the greater good of society. He believed that philanthropy should be a primary responsibility of the affluent, who should invest in projects that improve community welfare and enhance social progress. Carnegie advocated for the idea that wealth should be distributed during one's lifetime, rather than inherited, to promote a more equitable society. Overall, he saw philanthropy as a means to address social issues and uplift the less fortunate.

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Why did merchants believe they deserved power during Renaissance?

Unlike nobles, merchants did not inherit social rank. To succeed in business, they used their wits. As a reult, many successful merchants believed they deserved power and weath because of their individual merit.


What two classic works is Adam Smith best known for?

Adam Smith is best known for two classic works, one is The Theory of Moral Sentiments in 1759. And the other was An Inquiry into the Nature and Causes of the Wealth of Nations (also known as The Weath of Nations) in 1776.


Why is the government unable to print an unlimited supply of bank notes?

The governments money is tied to the economic and actual weath of the country. If the government did print unlimited money this would de-value the money and make it worth less. This leads to hyper-inflation as is being witnessed in Zimbabwe and what was witnessed in Germany after the wall street crash.


Why do many countries with a high gross domestic product end up with human development index ratings lower than other developed nations with lower GDPs.?

the pursuit of weath affects HDI negatively it's very difficult for any people or goverment to achieve gains in all areas of life 3.it's difficult to balance spending on things that increase HDI while being an international GDP leader APEX


How did capitalism disrupt society in the Old World and in the New World?

this was one of our euro questions. the old world was thought to be Europe, Asia and Africa, and the new world is the entire western hemisphere. capitalism is defined in chambers as an econimic change and the accumulation of capital, tangible weath, for its own sake. so it disrupted the old world society by changing the status of some people and the nw=ew world society by making more money available through trade.