What concept supported the idea that wealthy individuals should help the less fortunate?

• A. Economic Darwinism
• B. The Gospel of Wealth
• C. The Invisible Hand theory
• D. The Labor Code

Answer: (B)

The correct option, which is The Gospel of Wealth, refers to the philosophy articulated by Andrew Carnegie in the late 19th century. Carnegie argued that individuals who amassed great wealth had a moral obligation to use their fortunes to benefit society. This idea promotes the notion that wealthy individuals should act as stewards of their wealth, redistributing it in ways that could help improve the social, economic, and cultural conditions for the less fortunate. Carnegie believed that philanthropy was a critical responsibility of the wealthy, and he encouraged successful individuals to invest in community projects, educational institutions, and other initiatives that could uplift the less privileged.

In contrast, Economic Darwinism posits that the market operates on survival of the fittest principles, suggesting that economic success comes from competition rather than moral responsibility. The Invisible Hand theory, introduced by Adam Smith, describes how individuals' pursuit of self-interest can lead to beneficial outcomes for society through market dynamics, but it does not inherently advocate for the wealthy to support the less fortunate. Lastly, The Labor Code pertains to regulations governing labor standards and employee rights, which does not directly relate to the philosophy of wealth distribution by affluent individuals. Thus, The Gospel of Wealth stands out as the concept most closely associated with the duty of the wealthy to