"The Gospel of Wealth"
It was in this year that one of America's steel barons Andrew Carnegie first introduced his novel "The Gospel of Wealth." Carnegie was intrigued by the British who taxed the estates of the rich very heavily, stating that "By taxing estates heavily at death the State marks its condemnation of the selfish millionaire's unworthy life. It is desirable that nations should go much further in this direction." Carnegie did not believe that a weathy person should pass down large sums of money to their heirs, because he had seen many of these heirs blow an entire fortune through irresponsibility, and felt the money would be better spent serving the community.