Rockefeller Captian of Industry

Topics: John D. Rockefeller, ExxonMobil, Standard Oil Pages: 2 (683 words) Published: April 7, 2013
John D. Rockefeller was not a Robber Baron because he did nothing wrong, he was a product of the Industrial era, and played by its rules to attain the greatest victory, absolute economic success Rockefeller, Robber Baron or Captain of Industry?

John D. Rockefeller was the first billionaire in the United States. He owned Standard Oil Company, and was the main person to organize the oil industry. When he was young, the company he was working for at the time sent him to oil country. He checked everything out and reported back to the company that, as far as he could tell, there was no future in the oil industry. Little did he know that in a short time he would be investing in the oil industry. Before he knew it he owned twenty five refineries and was making a lot of money. He donated five hundred thirty million dollars of the money he made to medical research. John Rockefeller was a good business man who gave back to the community and was definitely a captain of industry.

Some people don't agree that Rockefeller was such a good person, in fact there are people who would probably call him a robber baron. This opinion isn't totally un-founded, like any businessman, John wasn't perfect. He bought out other oil companies until he had a monopoly on the oil industry. When monopolies were banned by the government he formed a corporation which was basically a loop hole in the monopoly law. He got rebates from the railroad company and special rates for transporting his oil. He hired spies to get inside information on his competition. Any competition that wouldn't be bought out was driven out of business because he could lower his prices more than anyone and still make a profit. Then, after he drove out competition he jacked up the oil price. Calling Rockefeller a robber baron wouldn't be totally unfounded.

Rockefeller did many things that would categorize him as a captain of industry. He improved the oil business in a lot of different ways. One very...
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