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Oil and kerosene were transported to market via railroads. All railroads were owned by private companies or publicly owned corporations. Standard Oil would cut lucrative contracts with railroad companies which made sure they would not transport the products of competitive companies to market. The Federal government had to step in and put a halt to this practice. Here is the statement from the Supreme Court relating to the Sherman Act
So how again is this the fault of government?
Pretty laughable is it that Edison competed Standard Oil out of the kerosene lighting oil business? Even when Standard Oil had 90% of lighting oil market.
Pretty laughable is it that Edison competed Standard Oil out of the kerosene business.
He didn't compete it out of business. His invention of the light bulb undercut the need for kerosene lamps overall. Regardless Standard Oil still had total domination over the market of kerosene.
CEO's are paid huge amounts because they are expected to do what is in the best interests of the majority shareholders. Which can often be no more then just one person. Instead of CEO's acting in the best interest of the company and its employees they instead act as lackeys for majority shareholders looking to make big, fast and easy money. The big bonuses are like bribes to ensure that CEO's continually do their bidding. This practice would disappear if laws mandated that workers were given half the seats at the board of directors. Which is what they do in most of Western Europe.
He didn't compete it out of business. His invention of the light bulb undercut the need for kerosene lamps overall. Regardless Standard Oil still had total domination over the market of kerosene.
Exactly! Kerosene at the time was used as lighting oil. It was the big cash cow for Standard Oil. So the monopoly didn’t work.
CEO's are paid huge amounts because they are expected to do what is in the best interests of the majority shareholders. Which can often be no more then just one person. Instead of CEO's acting in the best interest of the company and its employees they instead act as lackeys for majority shareholders looking to make big, fast and easy money. The big bonuses are like bribes to ensure that CEO's continually do their bidding. This practice would disappear if laws mandated that workers were given half the seats at the board of directors. Which is what they do in most of Western Europe.
You do understand the CEO and workers are paid by the owners who owns the company? Typically neither the CEO nor the workers own the company.
So you want put a gun on people’s head and force them to allow non-owners to dictate how the owners spend their money?
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