Competent monopolists aren’t good monopolists
If you do much reading about antitrust, you’re sure to come across Ida Tarbell, the campaigning investigative journalist whose masterful 1904 book, The History of the Standard Oil Company (free ebook, free audiobook), brought down John D. Rockefeller and his monopolistic Standard Oil Company, which was broken up in 1911. It split into seven companies, many of which are still with us—or were, until recent mergers (think: Exxon, Mobil, Esso, Chevron, Texaco, and Amoco).
Continue reading "A Monopoly Isn’t the Same as Legitimate Greatness"
