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Krugman Interview

What do people not realize about Rockefeller?

Paul Krugman
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I think that if Rockefeller hadn't existed, we would have invented him, that there was going to be a Rockefeller one way or another–-maybe ten years later, maybe less effective. But there were things like Rockefeller emerging all around the world, even in the oil business. I mean Standard Oil wasn't the only giant oil company that was emerging about that time. And in other countries, similar things were happening. But the big multi-unit business that controls an industry without having it all controlled from one or two factories and the globe spanning operations, all of that is something that really became visible with Standard Oil. And so that's Rockefeller's creation. And the corporation, as opposed to the factory, got taken away--you could almost say--is what he brought us.

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