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Paul Johnson wrote:
> > So the Standard Oil Trust was a good thing, and we should welcome
> > it's return?

During the time Standard Oil was in operation, the price of kerosine 
dropped some 90%.

When the company started, all petroleum that wasn't kerosine was 
dumped. Rockefeller was so focused on efficiency that under his 
constant pressure to innovate, the "waste" was consumed instead by 
300 different _profit making_ products. This indeed put inefficient 
competitors out of business, something I consider a very good thing.

By the time of the prosecution of Standard Oil, just like the 
prosecution of IBM 70 years later, their market share was down to 10% 
due to active competition and innovation pressure on all sides.

There may very well have been some nasty, reprehensible things done, 
which deserve both wide publicity and boycott. A company, no matter 
how large their market share, cannot force you to buy their product. 
And unless they _sell_ product, they fall.

Condemnation merely because they were big is envy. I see the same 
vitriol thrown at Microsoft, because of the same lack of awareness of 
how an unregulated market works.

Curt-

- -- 
September 11th, 2001
The proudest day for gun control and central 
planning advocates in American history

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