The Philosophy of the Industrialists

1. 

A. Laissez-faire Capitalism- this philosophy basically states that the government should not regulate businesses but businesses should be regulated by the invisible hand of supply and demand. They said that natural competition would encourage business owners to keep their prices low and their goods high quality. 

B. SOCIAL DARWINISM- Herbert Spencer took Charles Darwins idea of natural selection and survival of the fittest and applied it to society. The wealth concentrations should be and is in the hands of the fittest. 

C. Gospel of Wealth- the idea that riches and achievements were given to one by God. Andrew Carnagie also said that the wealthy people had the responsibility of bettering society around them. Carnagie gave over $350 million of fortune to libraries and other public buildings. 

2. This says that there should not be a bigger force controlling the businesses and other economic assets which would be the same in nature. In nature there is only the survival of the fittest and natural selection. Basically the fittest companies and businesses would survive by eliminating competitors. 

3. The money is divided into the fittest holders which gives them the divine responsibility of using that money for the good of society and their community. This gives people the hope that everyone has the duty to become rich. 

4. Rockefeller seems to be supporting social Darwinism in his comment. Through metaphors and similes he is basically saying that in order to be successful, the growing competition should be eliminated as soon as possible. He also expressed the Gospel of wealth by saying "working out of a law of nature and a law of God," stating that nature along with Gods law can work together to make the fittest business. 

5. The cartoonist says that it is not the work of nature that provides success for businesses. It is the hands of the wethy that kills the business, there is no divine or natural intervention. It is at the hands of the wealthy. 

6. 

  A. The middle class men or just public in general is the source. 

  B. The protected businesses are those that pay tribute. 

  C. The booty represents the quality of life as well as the flow of money coming from the public. Kind monopoly is taking everything the people worked for which shows how hard they worked. This makes up the quality of life and how much it's worth. 

  D. The people look very unhappy and unsatisfied. They seem to despise the King. 

  E. This represents the idea that the publics money all flows towards this one big business owner. 

  F. King monopoly represents the philosophy that monopolies have a negative impact on the lower classes. 

7. Some problems would include whether or not the independent businesses would accept the protective tariffs from the government or if they would be given the oppurtunity to accept the tariff. Social Darwinism wpuld result in only big monopolistic businesses while competitors are beat by better prices or better goods. People besides the big business owners would be forced into the middle class or just poverty in general. This would create very different types of people and would need government intervention to lower poverty rates. 

8. It is seen as the man with the bag of money is simply giving all of his money away for the public good. 

9. No it does not solve problems created by hose who employ the philosophy of Social Darwism. There is a lot of inequality created by those who are extremely rich and those that are very poor. It does not justify capitalism because not everyone has the oppurtunity to be these philanthropists. 

10. One example of the Gospel of Wealth would be Bill Gates, a billionaire, who contributes huge amounts of money to different charities. Social Darwism is not really evident as of today. It does not justify capitalism which would also result in monopolies.