4. The Rise and Fall of Monopolies
Petroleum entered the industrial scene in 1859 with John D. Rockefeller's hard work. As the first manufacturing corporation, Standard Oil created a monopoly in kerosene refining by buying others out. A huge drop in the price of fuel followed, benefiting consumers, due to production efficiencies. Rothbard, then, discusses pietists, prohibitionists and the big political shift of 1896.
Pietists, prohibitionists, anti-immigrationists, and women suffragettes had made a big Republican drive before 1890. But then a big, sudden shift in politics occurred, with Democrats capturing the big Midwest…
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