History of South America

What bad things did John D Rockefeller do?

1. Monopoly: Rockefeller's Standard Oil Company gained a monopoly over the oil industry in the United States, which gave him immense power over pricing and competition. This monopoly led to higher prices for consumers and stifled innovation.

2. Price manipulation: Rockefeller used his monopoly power to engage in price manipulation, such as predatory pricing and dumping, to drive competitors out of business. He would intentionally sell oil below cost in certain areas to drive out competition, then raise prices once the competition was eliminated.

3. Political influence: Rockefeller used his wealth to gain political influence and manipulate government policies to benefit his business. He lobbied lawmakers and made campaign contributions to gain favorable treatment for his company, such as exemption from antitrust laws.

4. Labor practices: Rockefeller's companies were known for their harsh working conditions and low wages. His refineries were notorious for accidents, injuries, and poor safety standards. Workers who complained or unionized were often fired.

5. Environmental damage: Rockefeller's oil refineries caused significant environmental damage, including air and water pollution, which affected the health of communities near his facilities.

6. Anti-competitive practices: Rockefeller used various anti-competitive tactics, such as exclusive contracts, rebates, and secret agreements, to prevent competitors from entering the oil market or gaining a foothold.

7. Philanthropy with ulterior motives: While Rockefeller was known for his philanthropy, some argue that his charitable contributions were motivated by a desire to improve his public image and deflect attention from his business practices.