How Did Rockefeller Build His Industry

304 Words2 Pages
John D. Rockefeller, a ruthless entrepreneur who made a deal with a billionaire (by today’s standards), Cornelius Vanderbilt. Cornelius Vanderbilt was a very wealthy man by his invention of railroads. When Vanderbilt saw a demand for oil, he turned to John D. Rockefeller to make a deal in which his trains get filled with Rockefeller’s oil. However, when Rockefeller saw opportunity strike for his industry, he invented pipelines that carried his oil throughout the United States. By Rockefeller performing this act, he became the nation’s robber baron. To start with, John D. Rockefeller started his entrepreneurship thinking about what could provide him with wealth. On the other hand, Rockefeller was excluding the consideration of the economy’s life and the disadvantages that could come from his invention. The clever businessman knows the high demand for oil and is willing to do anything to exceed his goal.…show more content…
He ruthlessly drove his competitors out of business to gain all control. Rockefeller knew that if he built a substantial pipeline to transfer his oil, he would be able to cut the railroad industry out for good. Soon, that’s exactly what Rockefeller had accomplished. On the other hand, you could contend my point by arguing that Rockefeller’s invention provided jobs to people, as it grew. However, by him creating that pipeline, it caused the railroad companies to crash the stock market and several people lost their jobs because of it, known as the Panic of 1873. Rockefeller made people lose more jobs than he could provide. To conclude, Rockefeller was a selfish, untrustworthy entrepreneur who wanted control over all. Although he was a clever businessman, he doesn’t deserve the credit. John D. Rockefeller did more harm than good for the economy and for that, he is a robber
Open Document