How did the price of kerosene move following Standard Oil’s rise to dominance?
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How did the price of kerosene move following Standard Oil’s rise to dominance?
Started by Murphy, Sep 07 2005 08:15 PM
2 replies to this topic
#2
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Posted 29 July 2008 - 11:43 AM
I remembering readin Woods book The Politically Incorrect History of America, ad lecturing in my Economics classes on monopolies, while actually listening across the hall to US history class lecture on the evil robber barons and the evils of those damn monopolies. I asked how were consumers hurt, kerosene went from 30 to 9 to 7.4 to 5.9 cents a gallon, where is the harm??? Even my students could see the DUH!!! in not breaking up Standrad. The market would have fixed any problems had Rockefeller hurt the customer.
#3
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Posted 20 September 2008 - 10:52 PM
Mart Grams, on Jul 29 2008, 11:43 AM, said:
I remembering readin Woods book The Politically Incorrect History of America, ad lecturing in my Economics classes on monopolies, while actually listening across the hall to US history class lecture on the evil robber barons and the evils of those damn monopolies. I asked how were consumers hurt, kerosene went from 30 to 9 to 7.4 to 5.9 cents a gallon, where is the harm??? Even my students could see the DUH!!! in not breaking up Standrad. The market would have fixed any problems had Rockefeller hurt the customer.
I don't think I knew you were a teacher.
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