Private Equity
Are today’s donor classes solving problems—or creating new ones? : In the spring of 1889, Andrew Carnegie published an essay on money. If possession confers knowledge, then there was no greater expert on the subject: Carnegie was possibly the richest American who ever lived. The essay, which was printed first in the North American Review, then in Britain’s Pall Mall Gazette, and later reissued in a pamphlet, became known as “The Gospel of Wealth.” The “Gospel” opened with a discussion of inequity.

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