J

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Harvard University *

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02

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History

Date

May 2, 2024

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docx

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3

Uploaded by BailiffClover3346

T ho ugh much time has passed since the days of America's great industrial and financial tycoons, the question still remains… Websites: http://www.history.com http://www.ushistory.org/ http://www.biography.com/ Name of Industrialist: J.D. ROCKEFELLER Industry: STANDARD OIL COMPANY Write a description of your assigned industrialist's early life. J.D. Rockefeller was born in 1839 in Richford, New York, to a humble family. His father worked as a traveling salesman, which resulted in frequent moves during Rockefeller's childhood. Despite financial challenges, Rockefeller's family stressed the importance of hard work and discipline. From a young age, Rockefeller displayed an interest for business, earning money through random side hustles. He had a very limited formal education but was an avid reader. At 16, he started working as a bookkeeper, refining his skills in finance and accounting. Explain how your assigned industrialist obtained his or her wealth? J.D. Rockefeller gained his wealth by revolutionizing the oil industry. Co-founding Standard Oil, he implemented the method of vertical integration to control all aspects of production, refining, and distribution. Through aggressive constant expansion and strategic partnerships, he monopolized the industry, securing beneficial deals and creating unprecedented growth. Rockefeller's relentless pursuit of efficiency and innovation brought Standard Oil to unparalleled success, making him one of history's richest entrrpreneurs. Were these tycoons CAPTAINS of industry, which laid the groundwork for America to become a great industrial power, or were they ROBBER barons, focused on acquiring wealth by limiting competition and exploiting poor?
Provide some details as to how your industrialists treated his or her workers? J.D. Rockefeller's treatment of workers was criticized for long hours, low pay, and harsh conditions. While he introduced some benefits and an 8-hour workday, his overall approach remains controversial. Was your assigned industrialist a philanthropist? Provide examples. J.D. Rockefeller was a philanthropist. One example is his establishment of the Rockefeller Foundation in 1913, which has since made significant contributions to various fields, including public health, medical research, education, and environmental conservation. Another example of his philanthropy is his support for the University of Chicago. Rockefeller provided substantial funding to help establish the university, which has since become one of the leading research institutions in the world. What are some key adjectives from your research that describe your industrialists? Some key adjectives to describe J.D. Rockefeller based off of my research are influential, philanthropic, and powerful.
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