The power was not exercised in keeping with the social contract of Rockefeller’sera. Because Rockefeller’s business grew bigger and bigger which forced andeliminated other competitors out of the oil industry.Standard Oil surpassed the limits of business power because he used his knowledgein the business to eliminate all possible competitors. He exercised all the differentlevels and spheres of corporate power. For example, He had economic powerbecause he saved all his money and invested whenever he could. He hadtechnological power because he invented the way society used light, more peoplewere able to stay up longer. He had political power because the government couldnot get to his company till many years later, Rockefeller held power over thegovernment. Lastly, he had legal power because anytime someone tried to goagainst them he would dig so deep into the competitors, they had no choice but togive into to Rockefeller. Question 3Does the story support the position of either the pluralist or dominance theory ofbusiness power?This case best illustrates pluralist theory of business power because Standard Oilmonopolized almost all of the oil industry. The pluralist theory holds that power isdistributed among many groups including coalitions of like-minded people, unions,professional associations and business lobbyists[Mel]. The policies establish tend
to be fair in the end. The story supported the pluralist theory of business power in
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- Fall '15