economics

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Title: economics

Essay Details:

Subject: Miscellaneous

Author:

Date: February 5, 2013

Level: University

Grade: A

Length: 3 / 685

Essay text:

Rockefeller. In 1910 Mr. Rockefeller's net worth was equal to nearly 2.5% of the whole US economy, the equivalent of nearly $250bn in today's terms, or at least twice as much as Bill Gates. The opposition to the trusts, particularly among farmers who protested against the high cost of rail transport to take their products to the cities, led to the passage of the first anti-trust law - The Sherman Act - in 1890. But it was more than 20 years later when Standard Oil was brought before the courts. The historic 1911 decision broke up Rockefeller's company into six main entities. These were, Standard Oil of New Jersey (now Exxon), Standard Oil of New York (now Mobil), Standard Oil of Ohio, and Standard Oil of Indiana (Amoco, part of BP) and Standard Oil of California (now Chevron)...

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