John D Rockefeller's Impact On American History
The United States of America has gone through many eras in its young, two-century history, driven by innovation and progress through the various individuals and groups that have contributed with long lasting effects. It is important to note, however, the conflicts that came along with it. Throughout America’s history, many people have attempted to create progress in their social, economical, and practical lives as they see fit. This sometimes led to conflicting interests, and the high-stakes nature of their pursuits caused turmoil in the form of turf wars, stemming from each side’s efforts to push for their own goals. Thomas Jefferson penned these immortal words in the Declaration of Independence: “ “We hold these truths to be self-evident, …show more content…
In particular, John D. Rockefeller, founder of the Standard Oil Company, was known for his ruthless grip on the oil industry through eliminating competition. He even made it a point to call competition “a sin” and [ANOTHER QUOTE], and followed suit with this philosophy by making deals with railroad companies for reduced prices in exchange for promised large shipments. The public outcry against Rockefeller’s practices became so widespread, [FINISH]. Separate from the ethical questions that prompted the U.S. government to break up Standard Oil into several companies, Rockefeller’s technique of acquiring smaller companies to aggressively grow his own company was “a move that pioneered modern American capitalism” according to History.com (2010). History will see Rockefeller as a complex man, known for his discipline, ruthlessness, and generosity, who created turmoil in the oil industry through his seemingly unrestrained practices in capitalism. However, it is also important to note that he also set a precedent for other companies to explore new ways to increase profit and grow and, indirectly, made sure businesses can have a fair chance to thrive in the future, through the legislation that was created in response to situations such as Standard Oil’s
Robber Baron Vs. Industrial Statesman By John D. Rockefeller
230 Words | 1 PagesIn “Robber Baron vs Industrial Statesman” John D. Rockefeller is portrayed as a Robber Baron due to his manipulative business techniques. Rockefeller started his involvement in the oil industry in 1863 by building his first refinery in Cleveland. Soon it became the largest in the area and due to it’s success Rockefeller turned his full attention to the project. With success came acquisitions, as Standard began buying out its competitors. One business he effected was the one of George Rice.
John D Rockefeller Captain Of Industry Essay
1415 Words | 6 PagesSoon over 90% of US gas stations were controlled by Rockefeller and his business. Through both vertical and horizontal integration, Rockefeller was able to single handedly monopolize the entire oil industry. So much so that, at one point in history, 80% of the world's oil production was under his control. Not only did this man create a fortune, but he is also credited for the creation of gasoline. With all of this success, however, came multiple scandals involving the Rockefeller name.
Robber Barons During The Gilded Age
542 Words | 3 PagesThese robber barons created ways like increasing prices on objects, paying low wages, and creating a monopoly to increase their wealth and their benefits. In the antebellum period, John D. Rockefeller’s family owned a store-like building, which helped Rockefeller understand the concept of running a business-like facility. During the Civil War he was able to create a small oil factory by 1700, and developed his oil factory to control all oil in the United States by the 1800s, as stated through Mr. Wallace’s lectures. The oil that he was able to control was the Carlson oil, which was considered oil of the working poor class, used to light homes and cook.
How Did John D Rockefeller Impact Society
1022 Words | 5 PagesBy 1882 he had a near-monopoly of the oil business in the U.S. He was able to keep his oil prices low. With that, many more people were consuming his product preferring it over the other oil companies. With cheap oil it had helped to fuel the popularity and accessibility of cars for the growth in the middle classes. Rockefeller also impacted America by provide jobs for the unskilled workers.
Was John D. Rockefeller A Robber Baron
336 Words | 2 PagesJohn D. Rockefeller was called a robber baron because many people believed he used unethical business practices to amass his extraordinary wealth. One of the most known was his practice of demanding rebates from railroads. Because Standard Oil shipped such large amounts of oil by rail, Rockefeller insisted that the railroads offer him rebates, or a discounted rate. This policy gave Standard
John D. Rockefeller: Industrial Statesmen Or Robber Barons?
1096 Words | 5 PagesRockefeller, aside from being the richest person ever recorded, also happened to be one of the most controversial figures of history. He began his journey to wealth during the civil war by starting an oil refining company, the profits of which he saved, except for what he gave to the union. Eventually, he established the firm Rockefeller, Andrews, and Parker; which owned two oil refineries in Cleveland. This firm was the predecessor to Standard Oil, which would soon become his empire. Once Rockefeller opened Standard Oil and began to rise in the ranks of the competitive industry, the means by which his business grew became clear and were met with strong criticism.
John D Rockefeller Monopolies Essay
1191 Words | 5 PagesIn the late 18 century up to the early 19th century industries were booming. Many “wise” business men began forming monopolies and eliminating competition to form even more monopolies and become Captains of Industries. Among these corrupt men was robber baron John D. Rockefeller (1839-1937). Some could say Rockefeller was a great man who did so much for the American people, but the real truth is buried beneath the lie that everyone keeps repeating: “John D. Rockefeller created jobs for many Americans, donated for various philanthropical causes…etc...” The real truth is that he used ruthless business practices to enrich himself.
John Rockefeller's Impact On The Oil Industry
1080 Words | 5 PagesRockefeller saw extraordinary amounts of success during his reign at Standard Oil and the industry as a whole. The tactics he employed to consolidate and dominate the market enabled him to continue to grow and expand his empire. Rockefeller was known for his merciless approach to business, as well as his willingness to take risks. A key strategy Rockefeller utilized was eliminating competition, he achieved this by buying out smaller companies, then combining the assets under Standard Oil. In pursuit of these smaller enterprises, he would often employ “predatory pricing”.
Joh John D. Rockefeller: A Positive Role Model
1270 Words | 6 Pages“On July 8, 1839, John D. Rockefeller, Sr. was born in a simple wood frame house in the quiet hamlet of Richford, New York. (klein)” Then he moved with his family to Cleveland Ohio at the age of fourteen. He wasn’t afraid of work like most teens he got his first job when he was sixteen years old. At age sixteen he was an assistant bookkeeper with Hewitt & Tuttle, commission merchants and produce shippers.
John D. Rockefeller's Impact On The Petroleum Industry
235 Words | 1 PagesRockefeller's journey began in a humble family where he learned the values of hard work and perseverance. These principles would later guide his business ventures and philanthropic efforts. Rockefeller's greatest achievement, Standard Oil, revolutionized the oil industry. His innovative approaches to business, although controversial, were instrumental
How Did John D Rockefeller Impact The Industrial Revolution
1371 Words | 6 PagesRockefeller has made an impact on the industrial revolution by changing and monopolizing the oil industry to bigger and better ideas. His funding to major organizations and schools, and motivation towards younger generations to push forward with his
John D. Rockefeller: The Captain Of Industry
459 Words | 2 PagesComing with a successful business is people trying to find faults in your greatness. Rockefeller was a Captain of Industry, he helped improve the inventions we already had by making oil more readily available. By doing this he made a fortune which made people believe that he was unable to be trusted, but all of these suspicions were incorrect, Rockefeller made his money honestly and helped our country thrive and become who we are today. Rockefeller had competition in the oil industry but,
Cornelius Vanderbilt And His Rivalry With John Rockefeller
601 Words | 3 PagesThis episode is about about Cornelius Vanderbilt and his rivalry with John Rockefeller. Cornelius Vanderbilt was a businessman who was known for his toughness and his tendency to prove his toughness in fights. When he was 16 he bought a small ferry boat, and with his cutthroat business style he was able to turn that single ferry into a fleet of ships. Later he was nicknamed "The Commodore". He later realized that railroads were the new thing to invest in.
How Did John D Rockefeller Contribute To Industrialization
510 Words | 3 PagesDuring the 1860’s to the 1900’s big innovations where discovered. This period of time increased America’s economy and made life easier. Mr. John D. Rockefeller was one of the many men who contributed to this incredible change. This man’s vision and ambition toward success/greatness “revolutionized the petroleum industry and provided a model for other consumer-goods industries” (pg 388). Other men followed his steps and made big businesses just like Rockefeller’s.
How Did John D Rockefeller Earn His Riches
1404 Words | 6 PagesRockefeller gained enormous wealth. Many people saw him as a symbol of corporate greed (History.com Staff, 2010). Muckraking journalists, reform politicians, and others criticized the method John used to build his empire (History.com Staff, 2010). The New York Times even reported about his methods in 1937 (History.com Staff, 2010). Standard Oil was accused of pushing out other companies to give itself a monopoly (History.com Staff, 2010).
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