JDR also got control in the railroads so that you couldn't afford the transportation cost, where as JDR was getting a discount. JDR used lots of leverage in gaining his monopoly over oil. Tactics today would be criminal and stopped dead with lawsuits. But back in the golden era of American Business, the government didn't regulate anything and business ran wild.
Friday, December 18, 2009
How did John D. Rockefeller gain a monopoly in the oil refining industry?
He was able to price his product so low that competitors couldn't compete. They would then go out of business and/or sell to JDR. Then JDR would jack his prices back up.
JDR also got control in the railroads so that you couldn't afford the transportation cost, where as JDR was getting a discount. JDR used lots of leverage in gaining his monopoly over oil. Tactics today would be criminal and stopped dead with lawsuits. But back in the golden era of American Business, the government didn't regulate anything and business ran wild.dermatologist
JDR also got control in the railroads so that you couldn't afford the transportation cost, where as JDR was getting a discount. JDR used lots of leverage in gaining his monopoly over oil. Tactics today would be criminal and stopped dead with lawsuits. But back in the golden era of American Business, the government didn't regulate anything and business ran wild.
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