John D. Rockefeller
Rockefeller was known as the Oil Baron. He started the practice of creating trusts, or horizontal integration. This allowed for complete control, or monopolization of the market. He, along with is partnered companies, would then have power over the market and laborers.
As a child he was not consistently well off. By the time he turn 19, he was able to dominate the oil industry. By a chain of upward strikes, he came to power, and started the Standard Oil Company of Ohio in 1870. The Great Trust was then formed in 1882. He always tried to eliminate the middleman and competitors. By 1877 he controlled 95% of Oil refineries. HE often showed little mercy believing in the idea that only the fittest can survive in the economic world. Although he attacked other companies in less than polite manners, he produced a better product for a lesser price, proving his efficiency. As others saw this, they realized that the trust system worked. This led to the success of several other trusts in other industries.
As a child he was not consistently well off. By the time he turn 19, he was able to dominate the oil industry. By a chain of upward strikes, he came to power, and started the Standard Oil Company of Ohio in 1870. The Great Trust was then formed in 1882. He always tried to eliminate the middleman and competitors. By 1877 he controlled 95% of Oil refineries. HE often showed little mercy believing in the idea that only the fittest can survive in the economic world. Although he attacked other companies in less than polite manners, he produced a better product for a lesser price, proving his efficiency. As others saw this, they realized that the trust system worked. This led to the success of several other trusts in other industries.