The Supreme Court, of the corporate United states hands down Standard Oil of New Jersey v. United states, ordering the corporation be broken up into smaller competitive pieces, as it is a monopoly in violation of the Sherman Anti-Trust Act.
NOTE: While Standard Oil’s market share rose from four percent in 1870, to 85% in 1890, the price for a barrel of refined oil fell during this period from six Cents to half a Cent.
[restored 6/5/2022]
Subsequent Events:
Authority:
“Law of the Jungle”
ccc-2point0.com/preface
References:
“Today in History,” Orange County Register, 15 May 2011, News:18.
Thomas J. DiLorenzo, How Capitalism Saved America: The Untold History of Our Country, From the Pilgrims to the Present, (New York: Crown Forum, 2004), 124-25.
Current U.s. National Debt:
