The Monopoly Myth: The Case of Standard Oil

Monday, March 30, 2009 • 12:15 PM • Law School 3043Duke Law Events

Join the Duke Law Federalist Society for a discussion with Alex Epstein of the Ayn Rand Center. America's experiment with laissez-faire capitalism in the 1800s was a disaster according to historians, because businessmen used anticompetitive tactics to form giant, invincible monopolies. The textbook example of the evils of big business is John D. Rockefeller's Standard Oil Trust. Epstein says that the textbooks need to be rewritten. He argues that Rockefeller's success was not based on shady practices, but on his company's remarkable ability to bring the best oil to millions of Americans at the cheapest prices. For more information, contact Elizabeth Laughton at elizabeth.laughton@law.duke.edu.

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