Rockefeller, Robber Baron Or Captain Of Industry? Essay, Research Paper
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 chief individual to form the oil industry. When he
was immature, the company he was working for at the clip sent him to oil state. He
checked everything out and reported back to the company that, every bit far as he could state,
there was no hereafter in the oil industry. Small did he cognize that in a short clip he would
be puting in the oil industry. Before he knew it he owned twenty five refineries and
was doing a batch of money. He donated five hundred 30 million dollars of the money
he made to medical research. John Rockefeller was a good concern adult male who gave back
to the community and was decidedly a captain of industry.
Some people don & # 8217 ; t agree that Rockefeller was such a good individual, infact there are
people who would likely name him a robber baron. This sentiment International Relations and Security Network & # 8217 ; t wholly
baseless, like any man of affairs, John wasn & # 8217 ; t perfect. He bought out other oil
companies until he had a monopoly on the oil industy. When monopolies were banned
by the authorities he formed a corporation which was fundamentally a cringle hole in the
monopoly jurisprudence. He got discounts from the railway company and particular rates for
transporting his oil. He hired undercover agents to acquire inside information on his competition. Any
competition that wouldn & # 8217 ; t be bought out was driven out of concern because he could
lower his monetary values more than anyone and still do a net income. Then, after he drove out
competition he jacked up the oil monetary value. Naming Rockefeller a robber baron wouldn & # 8217 ; t be
Rockefeller did many things that would categorise him as a captain of industry.
He improved the oil concern in a batch of different ways. One really of import thing he did
was form the oil Indus
attempt by puting money in it and doing production more
efficient. When he had established himself in this concern he began to engage chemists to
discovery uses for parts of the oil that weren & # 8217 ; Ts used after it was refined. This finally
eliminated waste because all of the oil was being used for something. John besides offered
service mercantile establishments so clients could acquire aid or do ailments if they needed to make so.
Rockefeller exhibited many qualities of a captain of industry in the manner that he improved
the oil concern.
One of import thing that is a specifying quality of a captain of industry is that they
give back to the community. Rockefeller decidedly did that. He has been called one of
the greatest philantrhopists of all clip. Of the over one billion dollars he made in the oil
industry, he gave more than five 100 30 million of it to charitable organisations
and foundations. He gave the largest contributions to the General Education Fund, the Laura
Spelman Rockefeller Memorial, and the Rockefeller Institute for Medical Research. He
even gave back to the companies that he bought out. They all received stock portions in
the Standard Oil Company, so they weren & # 8217 ; t wholly up the brook without a paddle.
Philanthorpy is a definite quality in a captain of industry and there is no uncertainty that John
Rockefeller posessed that quality.
John D. Rockefeller showed that he was a captain of industry by being a good
concern adult male and an first-class altruist. He was one of the primary people
involved in forming the oil industry. There was virtually no waste merchandise in the
refinement procedure of oil because he found utilizations for the left overs. He gave immense sums
of money to assorted charities and foundations. Although he did hold his defects, all the
good things he did decidedly outweighed the bad 1s. Without John D. Rockefeller the
oil industry and the universe would non be where they are today.