Folsom explains that the top three best-selling college textbooks in American history wrongfully portrayed Rockefeller’s success with the oil industry as fraudulent. by Burton W. Folsom, Jr., Folsom differentiates entrepreneurs into two categories during the 19. th. Vanderbilt showed this in his triumph over the Edward Collins' fleet and the Pacific Mail Steamship Company in the 1850s. Free markets worked well; government intervention usually failed.The years when this happened, from 1865 to the early 1900s, saw the U.S. encourage entrepreneurs indirectly by limiting government. These are essential lessons that need to be learned and applied today in order to turn around today's American economy. He dives into this criterion in seven chapters in his book that we will discuss.Rockefeller and his success with the oil industry. It is very sad that liberal historians and the hire education elite have misguided our youth on this important subject. Under Rockefellers leadership in the industry, he produced and sold kerosene at such an affordable price that middle and working class people all over the nation could afford it.


The Myth of the Robber Barons has separate chapters on Vanderbilt, Hill, Schwab, Mellon, and the Scrantons.

The importance of depicting this time in history correctly is necessary as America could have deeply plummeted had it not been for Rockefeller’s strategies to be victorious in the American-Russian oil war. The book portrays big businessmen as being behind America's greatness.Folsom explains that there are two kinds to entrepreneurs, market entrepreneurs and political entrepreneurs. The success of these entrepreneurs is contrasted with those who depended on government subsidy to succeed and could not compete because they had no market incentive to improDr. The spoils of victory—jobs, technology, cheap kerosene, cheap by-products and cheap gas to spur the auto Third, Russian oil was more centralized, more plentiful, and more viscous than American oil.” America was at a huge disadvantage when competing with Russia and our victory was monumental in what could have happened: “losing millions and and possibly even having to import from Russia. "The Myth of The Robber Barons" by Burton W. Folsom, JR. tells a unique story about entrepreneurs in early America. The spoils of victory—jobs, technology, cheap kerosene, cheap by-products and cheap gas to spur the auto These productive giants made their fortunes because so many Americans chose to do business with them. The state next failed in the role of an entrepreneur when it tried to build and operate an armor plant in competition with Charles Schwab and Bethlehem Steel. Rockefeller was able to build the most successful business in American history and been the key part of huge transformations in the oil industry while being a diligent and efficient leader. It opened my eyes to a whole world of business and history that I thoroughly enjoyed!This book needed to be written in order to stand in opposition to the way liberal historians and the hire education elite have painted this time period. The book portrays some key entrepreneurs as the reason for economic growth of the United States and America’s greatness. Tuesday, March 29, 2011.

This perception is strongly repudiated by Burton Folsom in The Myth of the Robber Barons as he demonstrates how college textbooks and other media have irresponsibly perpetuated erroneous versions of economic history.There is a perception that most of the industrialists who developed new ways of solving business problems between 1820 and 1930, enriching themselves in the process, were greedy, unethical and harmful to their customers.
"The Myth of The Robber Barons" by Burton W. Folsom, JR. is a very distinct story talking about the early American entrepreneurs. He then begins to mention that "no entrepreneur fits perfectly into one category or the other, but most fall generally into one category" (pg… He also saved America’sFolsom packs examples from all six chapters into this last seventh chapter to unravel the inaccuracies in these textbooks. The entrepreneurs studied are Cornelius Vanderbilt, John D. Rockefeller, James J. Hill, Andrew Mellon, Charles Schwab, and the Scranton family. This book exposes the Entrepreneur vs. State ran businesses and how important economic freedom really is. I have since referred to the book many times to show folks the real history of the famous businessmen who created some of the first great companies in America and provided massive benefits to consumers, often battling the government and/or competitors.The Myth of the Robber Barons distinguishes between two types of entrepreneurs:The Myth of the Robber Barons distinguishes between two types of entrepreneurs:"Those who tried to succeed... primarily through federal aid, pools, vote buying, or stock speculation we will classify as *political entrepreneurs. The final chapter discusses other history textbook's omissions and "incorrect" information. Folsom analyzes the rise of the big-business entrepreneur in America from a pro-capitalist viewpoint. Ch 5 the Oil Industry The Rockefeller s raised their children in upstate New York. and early 20. th. Download it once and read it on your Kindle device, PC, phones or tablets. Rockefeller eventually made his way to be the largest oil refiner in America. We cannot learn from history if its writers are not objective.


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