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'The man who dies thus rich, dies disgraced,' declared Carnegie, a doctrine that received its fullest expression in his book ''[[The Gospel of Wealth]]'' (1900). In his view, plutocracy such as his could exist alongside democracy, but men who acquired great wealth must return it to the community to preserve individual initiative. Thus the wealthy were but a trustee and an agent for their poorer brethren, albeit of the better and aspiring sort. His "scientific philanthropy" was to be carefully targeted according to a list of seven priorities. These were headed by his over-riding concerns—universities and free libraries—with churches in seventh place (an indication of his hostility to organized religion). The main instrument was the Carnegie Corporation formed in 1911; it was a scientifically designed organization with regular, firmly-stated, policies; it served  as a model that replaced the paternalistic basis of American philanthropy based on the personal tastes, local connections, and whims of the philanthropist.

'The man who dies thus rich, dies disgraced,' declared Carnegie, a doctrine that received its fullest expression in his book ''[[The Gospel of Wealth]]'' (1900). In his view, plutocracy such as his could exist alongside democracy, but men who acquired great wealth must return it to the community to preserve individual initiative. Thus the wealthy were but a trustee and an agent for their poorer brethren, albeit of the better and aspiring sort. His "scientific philanthropy" was to be carefully targeted according to a list of seven priorities. These were headed by his over-riding concerns—universities and free libraries—with churches in seventh place (an indication of his hostility to organized religion). The main instrument was the Carnegie Corporation formed in 1911; it was a scientifically designed organization with regular, firmly-stated, policies; it served  as a model that replaced the paternalistic basis of American philanthropy based on the personal tastes, local connections, and whims of the philanthropist.

In spite of his espousal of Herbert Spencer's philosophy and portions of the social Darwinism of the period, Carnegie remained deeply committed to many of the Chartist ideals of his boyhood. He rejected Spencer's attacks on philanthropy. In 1868 when, at the age of 33, his personal income had already reached $50,000 annually, he had written himself a note vowing to quit business shortly and never earn more than he was then earning, for "the amassing of wealth is one of the worst species of idolatry." He did not keep this resolution, but as his fortune grew so did his concern for reconciling great wealth with social and political democracy. Out of this concern came his own solution in his famous "Gospel of Wealth," first published in the North American Review in 1889. Here Carnegie stated his doctrine concerning the responsibility of the man of wealth to society. He must use the fortune he has earned to provide greater opportunity for all and to increase man's knowledge of himself and of his universe.

In spite of his espousal of Herbert Spencer's philosophy and portions of the social Darwinism of the period, Carnegie remained deeply committed to many of the Chartist ideals of his boyhood. He rejected Spencer's attacks on philanthropy. In 1868 when, at the age of 33, his personal income had already reached $50,000 annually, he had written himself a note vowing to quit business shortly and never earn more than he was then earning, for "the amassing of wealth is one of the worst species of idolatry." He did not keep this resolution, but as his fortune grew so did his concern for reconciling great wealth with social and political democracy. Out of this concern came his own solution in his famous "Gospel of Wealth," first published in ''The North American Review'' in 1889. Here Carnegie stated his doctrine concerning the responsibility of the man of wealth to society. He must use the fortune he has earned to provide greater opportunity for all and to increase man's knowledge of himself and of his universe.

In the 18 years after he retired from steel he succeeded in giving back to society over $300,000,000, largely through the creation of one of the most remarkable group of philanthropic [[foundations]] in the world. These foundations included, in Great Britain: the Carnegie Trust for the Universities of Scotland, the Carnegie Dunfermline Trust, the Carnegie Hero Fund Trust, the Carnegie United Kingdom Trust; and in the United States: the Carnegie Institute of Pittsburgh, the Hero Fund Commission<ref> It rewarded peaceful (as opposed to warlike) individual acts of heroism.</ref>, the Carnegie Institute of Washington, the Carnegie Foundation for the Advancement of Teaching, the Carnegie Endowment for International Peace, and the largest of all, the Carnegie Corporation of New York with a basic endowment of $135,000,000.  

In the 18 years after he retired from steel he succeeded in giving back to society over $300,000,000, largely through the creation of one of the most remarkable group of philanthropic [[foundations]] in the world. These foundations included, in Great Britain: the Carnegie Trust for the Universities of Scotland, the Carnegie Dunfermline Trust, the Carnegie Hero Fund Trust, the Carnegie United Kingdom Trust; and in the United States: the Carnegie Institute of Pittsburgh, the Hero Fund Commission<ref> It rewarded peaceful (as opposed to warlike) individual acts of heroism.</ref>, the Carnegie Institute of Washington, the Carnegie Foundation for the Advancement of Teaching, the Carnegie Endowment for International Peace, and the largest of all, the Carnegie Corporation of New York with a basic endowment of $135,000,000.