How Did Rockefeller's Robber Barons Affect The Economy
John D. Rockefeller has earned a spot in the hall of shame. He became wealthy because of ruthless and dishonorable business tactics which then hurt the nation. Rockefeller became wealthy because, he lowered his prices way down and forced the Pennsylvania Railroad to lower their prices, and he also ran smaller companies out of business and then took them over for his own. After he took over most of the smaller businesses, he raised his own prices back up in order to bring in a bigger profit. Rockefeller’s robber baron side was reflected by this action because, he went behind people’s backs and turned the other way when it came to business partners.
Rockefeller bought out his partner in an auction for a total of $72,500 in February 1865. He also
showed us his bad side by buying out his partner, the person that he should have been a leader to and taken his side, but instead he took over his partners business and made it his own which led to a bigger profit in return.
Although Rockefeller did a lot of bad things like buying out the less fortunate, he also did some good while he was alive. He donated money to charities and that led to him giving away most of his money by the time he died on May 23, 1937. Even though he did give away his money, the way he earned it was what made him a robber baron. Rockefeller used his power in his industry to further only himself, and or at the expense of what was good for the American economy. In 1865, Rockefeller borrowed money to buy out some of his partners and take control of the refinery, which had become the largest in Cleveland. He earned his spot in the hall of shame because, he again, bought out his partners in order to make more money for himself and he didn’t care what he had to do to accomplish it. "Our national life is on every side distinctly poorer, uglier, meaner, for the kind of influence he exercises," Ida Tarbell. Rockefeller was making a very bad impact on the United States and many people agreed including Ida Tarbell who was a reporter that revealed Rockefeller for who he truly was.
Rockefeller bought out his partner in an auction for a total of $72,500 in February 1865. He also
showed us his bad side by buying out his partner, the person that he should have been a leader to and taken his side, but instead he took over his partners business and made it his own which led to a bigger profit in return.
Although Rockefeller did a lot of bad things like buying out the less fortunate, he also did some good while he was alive. He donated money to charities and that led to him giving away most of his money by the time he died on May 23, 1937. Even though he did give away his money, the way he earned it was what made him a robber baron. Rockefeller used his power in his industry to further only himself, and or at the expense of what was good for the American economy. In 1865, Rockefeller borrowed money to buy out some of his partners and take control of the refinery, which had become the largest in Cleveland. He earned his spot in the hall of shame because, he again, bought out his partners in order to make more money for himself and he didn’t care what he had to do to accomplish it. "Our national life is on every side distinctly poorer, uglier, meaner, for the kind of influence he exercises," Ida Tarbell. Rockefeller was making a very bad impact on the United States and many people agreed including Ida Tarbell who was a reporter that revealed Rockefeller for who he truly was.