Rockefeller Robber Baron Or Captain Of Industry Essay

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

wholly baseless.

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.