Carnegie was one of the biggest industrialists in America, he owned more than 2% of the American GDP. He wrote “The Gospel of Wealth” in 1889 which he defended that there are great responsibilities that come with wealth and he created guidelines of the responsibilities of capitalism.
He insisted that his gospel of wealth was founded upon individualism because he defended that the capitalist system is fair because everyone has to participate to it and everyone has responsibilities to give back to society as a value of society.
There is a very important cultural significance of the Gospel of Wealth term because it means that everyone that has more than other should give back to society because society helped this person to reach that place through capitalism.
