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How Did Rockefeller Use Of Scarcity

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Scarcity played a big roll in Rockefeller’s life. When John D. Rockefeller was young, he learned his lesson on scarcity. Rockefeller grew up in a poor family in which his father was not really a part of, so at a young age Rockefeller supported his family by selling candy for a higher price than it took to make it. This taught Rockefeller that he needed to work for what he wanted and that it is hard to do anything with nothing. Scarcity affected Rockefeller in many ways, starting from his experience as a children until he was an adult. When John D. Rockefeller was an adult, he used scarcity, which is having a little supply of something, to create a monopoly. Rockefeller bought out businesses that were struggling in the oil industry to gain control over the industry, and he bought companies that supported the oil industry so that other companies in the oil industry couldn’t improv, and people could not …show more content…

Rockefeller was given a discount on the cost it took to transport his oil from Vanderbilt which gave Rockefeller an advantage because he was able to pocket more money than the other oil refineries were. This allowed Rockefeller to make more money than other refineries. After a little while, Rockefeller realized that he was making more oil than Vanderbilt’s railroad cars could ship, so Rockefeller went to other railroad barons trying to get more of a discount, and he pawned the railroad barons against one another. After the railroad barons decided to come together and not give anymore discounts to Rockefeller, Rockefeller decided to find a new way to get oil around the country. Rockefeller build pipelines which allowed him to cut the railroads out of the picture. These things affected many businesses because Rockefeller was smart enough to use other businesses to improve his business. Some companies benefited from Rockefeller’s monopoly, but many others

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