Henry Demarest Lloyd, a Chicago muckraker, wrote in his book Wealth Against Commonwealth about his skepticism of the economy of the gilded age that tycoons such as Andrew Carnegie spoke of. Both Lloyd and Carnegie recognized that “the problem of [their] age is the proper administration of wealth” (52). Lloyd blamed monopolies for the disparity of wealth. However, in The Gospel of Wealth, Carnegie argues that the wealth disparity “is not to be deplored, but welcomed as highly beneficial” and that wealth created by competition is good because “the advantages of this law [of competition] are still greater than its costs” (53). Lloyd believed that the quality of life could and needed to be improved but the corporations “regulate the consumption
