> In more extreme cases, look at John D. Rockefeller's Standard Oil. Rockefeller used to be the wealthiest person in the world ... We have checks in place to curb the anti-competitive forces of certain companies.
If anyone is curious about John Rockefeller, I'd very strongly recommend "Titan" by Ron Chernow, which is a very detailed and fair biography of Rockefeller. It's one of the more important biographies I've read for my own development as a person.
After reading it, I'm thoroughly convinced that the oil industry would've been much smaller and much more expensive without Rockefeller's work, and he was a genius about chemistry, engineering, distribution, and all sorts of things. Rockefeller is probably in the 10 Americans of wealth created of all time - oil prices fell a huge amount due to Rockefeller's leadership, ability to find talent. He paid people well and treated them well. Did a lot of philanthropy, and raised his kids really modestly too. They lived in a three bedroom home with his wife and six kids for a long time, treated people really well. His kids didn't know they were one of the wealthiest families in America until they were teenagers.
Really an amazing guy. I'd recommend that biography to anyone. I think most people, even people who strongly believe in social causes and regulation, will admire the guy a lot after reading his biography. He did a massively lot of good for the world.
I haven't read Titan, but I can recommend "The Myth of the Robber Barrons". Excellent book.
The short story is this: All those robber barrons did far more good for society than the government that broke them up. The propaganda about how they were doing so much harm and needed to be broken up for the good of society is the basic propaganda of socialism. But of course, since it is taught as history, people believe it.
If anyone is curious about John Rockefeller, I'd very strongly recommend "Titan" by Ron Chernow, which is a very detailed and fair biography of Rockefeller. It's one of the more important biographies I've read for my own development as a person.
After reading it, I'm thoroughly convinced that the oil industry would've been much smaller and much more expensive without Rockefeller's work, and he was a genius about chemistry, engineering, distribution, and all sorts of things. Rockefeller is probably in the 10 Americans of wealth created of all time - oil prices fell a huge amount due to Rockefeller's leadership, ability to find talent. He paid people well and treated them well. Did a lot of philanthropy, and raised his kids really modestly too. They lived in a three bedroom home with his wife and six kids for a long time, treated people really well. His kids didn't know they were one of the wealthiest families in America until they were teenagers.
Really an amazing guy. I'd recommend that biography to anyone. I think most people, even people who strongly believe in social causes and regulation, will admire the guy a lot after reading his biography. He did a massively lot of good for the world.