CASE #1 JD Rockafeller Pg 82
1. In essence to the response of this question tying in how Standard Oil had changed society with references to the levels and spheres of corporate power discusses in the chapter, I would say that the power of economic, cultural and political of the Standard Oil has led to the big changes to the society. Based on the text book mentioned that “Rockefeller’s company was capitalized at 70$ million and produced 90 percent of the nation’s refining output.” This has shown how strong the economic power of Standard Oil is. The Standard Oil Company built the facilities, employ workers.
At a deeper level it can make fuels lead to the growth of auto industry. Aside from this fact as well it can boost up the American…show more content… JD was a man who dominated the oil industry and controls the price of oil made him gained a lot of profit. Besides that the Standard Oil Company was the only company produced 90 percent of the nation’s refining output. Another point would be the rebates given by the shipper to Rockefeller had become the reason lead the Standard Oil Company increase in their profitability.
The Standard Oil Company meets its responsibilities to society. The expensive price of candle made most of the American could not afford to buy, and by that time the main product which is illuminating oil had changed the living lifestyle of the people. Previously most Americans went to sleep with darkness, but when the good quality of illuminating oil was introduced and the price was affordable and safe to be used, most Americans could own it. This can be viewed as one of the examples the standard Oil Company meet its responsibilities to society.
Although Rockefeller had monopolized the oil industry by eliminating his competitor but he still show the concern to the society, this can be seen when he did not increase the illuminating oil to gain more profit, he set the illuminating oil in a reasonable price so that everyone could afford this new type and way of living that set a mark in history for how people’s lives changed due to this. Overall I feel that in respect to all of his actions in relation to how he performed utilitarian duties due to him