Monopoly: Difference between revisions

Founded by John D. Rockefeller in 1870, one of the most famous historical monopolies. Standard Oil achieved control over approximately 90% of oil refining in the United States by the early 1880s. It's dominance led to the passage of the Sherman Antitrust Act in 1890, and ultimately to its breakup into 34 separate companies in 1911 following a Supreme Court ruling. The Standard Oil case established important precedents for antitrust enforcement and demonstrated how monopolies could emerge through both efficiency advantages and anti-competitive practices.<ref>{{Cite web |last= |first= |date= |title= |url=https://www.library.hbs.edu/us-steel/exhibition/the-founding-of-u.s.-steel-and-the-power-of-public-opinion |website= }}</ref>