Quote:
Originally Posted by nation-x
and he didn't have to compete with giant multi-nationals... and saying that Standard Oil was a bigger monopoly that even half of the biggest multi-nationals is ignorant to say the least. In terms of market share... maybe... but it was a very different world then. By todays standards, Standard Oil was a small business. Now they do it with subsidiaries.
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he little boy, read before speaking.
http://www.linfo.org/standardoil.html
"""The saga of Standard Oil ranks as one of the most dramatic episodes in the history of the U.S. economy. It occurred at a time when the country was undergoing its rapid transformation from a mainly agricultural society to the greatest industrial powerhouse the world has ever known.
The effects of Standard Oil on the U.S., as well as on much of the rest of the world, were immense, and the lessons that can be learned from this amazing story are possibly as relevant today as they were a century ago.
Standard Oil Company was founded by John D. Rockefeller in Cleveland, Ohio in 1870, and, in just a little over a decade, it had attained control of nearly all the oil refineries in the U.S. This dominance of oil, together with its tentacles entwined deep into the railroads, other industries and
even various levels of government, persisted and intensified, despite a growing public outcry and repeated attempts to break it up, until the U.S. Supreme Court was finally able to act decisively in 1911............""""