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Who was a US industrialist and founder of the Standard Oil Company which dominated the oil industry and was the first great US business trust?
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∙ 11y ago
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Who is john d rockfeller?
he is a person who worked for alot of money and treated his workers badly
What is Nature of industry mean?
fthe nature of industry is one of the most important element in determining the degree of financial leverage a firm can carry safely without any risk of bankruptcy.
How did john D Rockefeller have an impact on America?
Not sure when this question is from but I'll answer it anyways... Following the Civil War, America experienced massive industrialization. By the 1880s, businesses began to combine their companies into much larger organizations. There large companies became known as trusts. In 1881, John D. Rockefeller established the first trust, the Standard Oil Company. He pioneered many of the aggressive business practices he used by trusts. Standard Oil and other trusts used their size advantage to hold down prices and drive competitors out of business. By the turn on the century, nearly 80% of the US industry was controlled by trusts. In 1890, Congress passed the Sherman Anti-trust Act to protect fair competition. The law regulated trusts and outlawed monopolies. Federal courts were empowered to break monopolies into smaller, less powerful companies. However, the courts narrowly applied the new law. For example, in 1895, the Supreme Court ruled that the Sherman Act did not apply to trusts that controlled 98% of the country's sugar refineries. The courts were not alone to blame for the government's failure to control trusts. Presidents sympathetic to business did not enforce the Sherman Act, like Grover Cleveland and William McKinley. By 1900, Standard Oil controlled nearly 95% of the US oil industry. The company set its price for oil below the price of production. Other oil companies could not compete. In affect Standard Oil drove them out of business. Once free of competition, Rockefeller could then raise prices. Rockefeller also forced oil transport companies to secretly pay for the privilege of hauling Standard Oil's products. The transporters paid the fees because they could not afford to lose the business of a company that so dominated the industry. These fees, called rebates, helped Standard Oil reduce costs to levels that drove its competitors out of business. Standard Oil provided an easy target for muck-raking journalist, Ida Tarbell. From 1901 to 1904, she published a popular series of articles attacking Standard Oil. Her allegations ranged from secret rebates to accusations that Rockefeller once cheated a widow of her inheritance. Tarbell's Standard Oil series coincided with the rise to the presidency of progressive reformer, Theodore Roosevelt. The new President resolved once a for all that government would regulate trusts. Thus, he began to enforce the Sherman Act as it was originally intended. Tarbell's magazine stories and Roosevelt's anti-trust campaign caused widespread criticism of some of Standard Oil's business practices. The government now faced a difficult decision: should it break up Standard Oil's monopoly?
What industry did Ida Tarbell target?
the oil industry
How did john d rockafeller get his fortune?
John D. Rockefeller amassed his fortune primarily through his company, Standard Oil. He built a monopoly in the oil industry by acquiring and consolidating various oil companies, controlling oil refining and distribution, and leveraging his influence. His business practices and strategies, along with a strong focus on efficiency and cost-cutting, helped him become the wealthiest person in modern history.
John D. Rockefeller?
Was an American industrialist and philanthropist. He was the founder of the Standard Oil Company, which dominated the oil industry and was the first great U.S. business trust. He revolutionized the petroleum industry and defined the structure of modern philanthropy.
Who dominated the oil industry in the 1880s?
John D. Rockefeller. Apex :)
Why were industrialist during the age of big business called captains of industry?
They increased the supply of goods and created many jobs
What was the new industry dominated by?
the new industry was dominated by machinery and manufacturing.
Is an industrialist a politician?
Not necessarily. An industrialist is someone who owns an industry, or promotes industry in general. This person could also be a politician, but the term does not refer to a type of politics.
What is a sentence using standard?
Our business set the industry standard for customer surface.
Can you give a sentence for the word industrialist?
The founder of Ford Motor Company, Henry Ford, was a visionary industrialist and a pioneer for the automobile industry.
What did the industrialist control in industry capitalism?
American federation of labor - afl
What industry was dominated in new England?
duck industry
Who was Vincente Ybor?
A cuban industrialist who established the cigar making industry in the U.S.A.
Who dominated the desktop publishing industry?
me
What type of companies make up the metal and door business?
This industry is dominated by small independent companies with fewer than 20 employees.
