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WHY WE MUST RE-DISTRIBUTE INCOMES

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WHY WE MUST RE-DISTRIBUTE INCOMES Andrew Carnegie, a one-time richest man in the world as far back as 1949 asserted that: The duty of the man of Wealth: is first, to set an example of modest, unostentatious living, shunning display or extravagance. To provide moderately for the legitimate wants of those dependent upon him; and after doing so to consider all surplus revenues which come to him simply as trust funds, which he is called upon to administer, and strictly bound as a matter of duty to administer in the manner which, in his judgment, is best calculated to produce the most beneficial results for the communitythe man of wealth thus becoming the mere agent and trustee for his poorer brethren, bringing to their service his superior wisdom, experience and ability to administer, doing for them better than they would or could do for themselves. Andrew Carnegie – donated money to build over 2500 libraries worldwide; John D. Rockefeller Jr., another notable sympathiser of humanity – dramatically expanded the Rockefeller Foundation and Rockefeller University; bought and then donated the land in Manhattan upon which the United Nations headquarters was built as his contribution to fostering peace and international understanding. The succeeding generation of givers in the United States` – the Bill Gates and Warren Buffets are practically touching lives on a global scale; utilizing their hard-earned resources for the common good of all. Andrew Carnegie, at the age of 66 years was the world’s richest man who gave money to good causes. Andrew Carnegie, in 1889 wrote an article on “The Gospel of Wealth”, that describes the responsibility of philanthropy by the then new upper class of self-made rich. As far back as 1901, Carnegie gave away US$350 million to help the poor. On his part, John D. Rockefeller donated $540 million before his death in 1937 at the age of 97 years. The pertinent questions are: What is it that gives the rich abroad a sense of responsibility to the development of his or her society through philanthropy? Conversely, what are the reasons why an average affluent personality in the developing world keep staggering amounts in bank vaults without bothering about the poor in the society? Very simple: Cultures, traditions and societal influences play huge roles in influencing human conducts. The pattern of governance and fiscal policies also affect social conducts in the advanced world. While one may not…

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