Edited by Gerald Boerner
At the end of the 19th century our country saw the rise of industrial tycoons such as John D. Rockefeller. He founded the Standard Oil Company refine and distribute petroleum products. However, he created a monopoly in this industry to control prices, distribution, and transport of these products. Why? To prevent competition from independent producers. At this he was successful to a fault.
When Teddy Roosevelt became president, he launched a campaign of trust-busting. He began strict enforcement of the Sherman Antitrust Act that had been enacted in 1890. Rockefeller was his first target an the monopolistic Standard Oil Company of New Jersey controlled by Rockefeller. This company was found by the Supreme Court upheld the guilty verdict and the company was broken up into many companies whose names were household words until the recent rash of mergers.
We are better off today with competition rather than the control of consumable resources by a few. Perhaps the monopoly was good in the initial development of an industry, but competition helps to refine the industry. Such is our exploration today.
So, let’s get our exploration started… GLB
These Introductory Comments are copyrighted:
Copyright©2010 — Gerald Boerner — All Rights Reserved
[ 4100 Words ]
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