Monopoly Quotes
She was referring to the high percentage of Rockefeller workers who were killed in industrial accidents with little or no management concern for workplace safety. In addition, she accused Rockefeller (and other very rich employers) of paying such low wages that full time workers lived in abject poverty and suffering the short lifespan that went with poverty then (and even today, but less so.)
One of the contradictions of capitalism is that at many points in history capitalism has caused and/or contributed to great death and suffering. However, that same capitalism has led to the development of science, technology, agronomy, medicine and education which has saved and preserved millions of lives and raised the standard of living more than anything else.
3rd Earl Russell of Kingston. The military weak nations agreed with him, but the militarily strong ones did not—especially America and England which had the Atomic Bomb when others did not.
Samuel Langhorne Clemens, 1835-1910. The nature of telephone technology made it easy for companies to obtain monopolies for different areas of the country. When there is a monopoly, there is a huge tendency for the controlling company to charge very high prices and have poor customer service as the usual competition required for quality performance under capitalism is nonexistant. So in 1890, there was the same resentment of the telephone companies, that existed over a century later when there was still a monopoly. Regulation helped somewhat, but the capabilities of the monopolist began to include lobbying and campaign contributions so that typically, in the 21st century, the local telephone companies had much control over the State Commissions that were supposed to regulate them. Long distance service, whose monopoly was broken up by the Federal Courts became a wonderful service for customers and the prices were a tiny fraction of what they had been under their old monopoly.
It took until the Presidency of Theodore Roosevelt until monopolies were regulated. Like many of the rapacious businessmen of his era, bribery of public officials was so common that he had no problem admitting this to a reporter who was interviewing him. His father Cornelius, one of the great, creative industrialists of America, was not at all of the same mindset or the same corrupt character and saw corporations and the Railroads as having an important role in America with substantial obligations to the society which enabled the economic development and supported the railroads. He described his son as a “blockhead”. William goes down in American history as the arrogant industrialist and capitalist whose wealth was produced by his talent of being born to the right father who built the great empire. At that time the bribery of members of Congress was direct with cash going directly into their pockets, unlike modern times where it is indirect in the form of Campaign contributions.
the prophet was hostile to all forms of monopoly which in his time for almost always granted through political corruption and favoritism. Before Christians even considered the issue, Islam considered monopolies anti-consumer and contrary to the interests of the Muslim society.
