Innovators of the Market Revolution: Differing Approaches

Essay from the year 2006 in the subject Economics - History, grade: 100%, University College of Bangor, language: English, abstract: John D. Rockefeller, Cyrus H. McCormick, Potter Palmer and Philip D. Armour are each now considered to be innovators of business as we know it today, although each of them had their own approaches to running their companies. John D. Rockefeller certainly changed the way that America did business, but not for the better. From the beginning, he thought big. When first looking for employment, John ignored the smaller businesses and instead focused his attention on the larger, more profitable companies. When John himself got big, he so much wanted to be rich that he eventually would buy out smaller refineries against their will, because there was nothing that they could do. He made what was once a business of several smaller refineries employing many into one big company for the purpose of making himself even richer. The way that John changed the way America does business forever is that people now tend to think big. People open a new business in the intent of expanding. He taught America how to think only for yourself and attaining your wealth, not matter whom you must put out of business. John succeeded in almost eliminating small business entirely. Like many, John had started out with his heart in the right place. He thought that his talent for making money was a God-given gift, so that he could be generous with his wealth and help others like he was helped by the church as a child when abandoned by his own greedy father. Instead, John became obsessed with ledgers and business and his own greed. He became rich for no one other than himself. John did not become rich selflessly, because he wanted to help others. In fact, he screwed over many on his way to gaining all of his wealth. He put various companies, and therefore even more people, out of business. [...]