The American Economy and the End of Laissez-Faire: 1870 to World War II

4. The Rise and Fall of Monopolies

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Rockefeller's Standard Oil created a monopoly in kerosene refining by buying others out. A huge drop in the price of fuel followed, benefiting consumers, due to production efficiencies. Rothbard then discusses pietists, prohibitionists and the big political shift of 1896.
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The American Economy and the End of Laissez-Faire: 1870 to World War IIBy Murray N. Rothbard
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