Friday, December 7, 2018
On the Government's Moronic Claim that the Antitrust Case Against Standard Oil Was to Protect the Consumers
Yeah, the truth here is that through Rockefeller's amazing efficiency the price of refined oil actually DROPPED by 73% (from 30 cents per gallon in 1869 to 8 cents in 1885). Couple this with the major improvements in quality, the plethora of oil by-products that emerged (wax, varnish, lubricants, etc.), the great leaps in innovation that allowed wages to go up, and the fact that there were still scores of smaller competitors in the industry and it's clear that the only victims in this whole saga were Rockefeller's competitors who had started this crusade along with their crony-assed political pals. Monopoly, my ass...…………………………………………………………………….P.S. For more on this subject I heartily recommend these three books; "The Myth of the Robber Barons" by Burton Folsom, "How Capitalism Saved America" by Thomas DiLorenzo, and "Antitrust and Monopoly" by Dominick Armentano. Trust me, they'll more than prepare you for any debate with a socialist, anticapitalist, statist, etc..
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