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U.S. History 1877-Present 3: John D. Rockefeller 13980 Views


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Description:

John D. Rockefeller. Greasy robber baron, or philanthropic saint? Why not both? Boy, that's a weird combination... 

Language:
English Language

Transcript

00:03

John d rockefeller you know he was important because spell [Person types John D. Rockefeller into computer]

00:07

check doesn't put a red squiggly under his name try of course he had a few

00:11

other achievements to brag about you know how politicians are always talking

00:15

about how they came from nothing to get to where they are how they were super [Politicians talking on stage]

00:18

poor and worked hard to make their dreams a reality well with Rockefeller

00:23

that was actually true he started out as a teenager in the produce business [Rockefeller standing in produce section]

00:26

working as a junior bookkeeper making fifty cents a day but what Rockefeller

00:31

soon learned is that all a fella needs to get ahead in the land of opportunity [Land of opportunity book opens]

00:34

is courage ingenuity and let's say a moral flexibility at times it all

00:40

started in 1863 when Rockefeller got some partners and built an oil refinery

00:45

1863 wasn't something else going on at that time oh yeah the Civil War but [Man thinking about 1863]

00:50

while his brother Frank was off serving this country John Dee made heaps cash

00:54

selling black gold he bought out his partners in the last year of the war and [John standing by oil pumps]

00:57

built the business into the Colossus known as standard oil yep this was the

01:02

birth of big oil people and it was a greasy baby to say the least the father [Doctor and nurse trying to handle big oil]

01:06

of big oil Rockefeller was the archetypical robber baron this is the

01:10

word people used for guys like j-roc who made millions or billions with cutthroat

01:15

business practices Rockefellers robber baron resume looked a lot like many of

01:19

his robber baron frenemies there was starving and endangering his workers

01:23

dominating all stages of production in his industry ruthlessly taking over

01:28

small companies creating a monopoly in which he completely controlled the

01:32

industry and so was able to set whatever prices he wanted all that sounds like

01:36

cheating that's because well it is no doubt j-roc was crafty he turned what [Rockefeller standing outside Arts & Crafts door]

01:42

other oil producers considered waste products into new products he demanded

01:46

cheaper rates from the railroads that hauled is good and if a railroad didn't [Rockefeller standing by train]

01:49

feel like giving one of the richest guys in America a discount Rockefeller just

01:54

bought himself a life-size train set to play with here's another sneaky j-rok

01:57

tactic 19th century America many state governments wouldn't do business with a

02:01

company incorporated in another state for instance Standard Oil is

02:06

incorporated in pennsylvania so it couldn't do business in ohio rockefeller

02:11

got around this by taking over oil company [Rockefeller meeting government inspector]

02:13

in Ohio and continuing to run them under their old names this way the state

02:17

government had no idea was dealing with standard oil it was kind of like a

02:20

corporate sneak attack these supposedly separate corporations were really just

02:24

standard oil in disguise well standard became a trust the parent corporation of

02:29

a number of smaller corporations whose assets standard held in trust Trust

02:33

Rockefeller to make sure those assets went into his mink-lined pocket well of [Rockefeller wearing woolly jacket]

02:38

course plenty of money came out of those pockets too Rockefeller gave millions to

02:42

charity in fact he gave almost half of his billions away before he died in 1937 [Rockefeller in bed and woman stood by bed]

02:47

he funded churches libraries hospitals museums and a whole lot more he used to

02:51

say God gave me money and like a God Himself rockefeller-controlled people [Rockefeller controlling puppets]

02:56

lives in America's businesses doling out both destruction and amazing gifts rocky

03:01

giveth and rocky taketh away

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