Daily Kos: A Common Theme as Limbaugh, Murdoch and Beck Self Destruct
Standard Oil Company was founded by John D. Rockefeller in Cleveland, Ohio in 1870, and, in just a little over a decade, it had attained control of nearly all the oil refineries in the U.S. This dominance of oil, together with its tentacles entwined deep into the railroads, other industries and even various levels of government, persisted and intensified.
This trend went far from unnoticed by the general public. In fact, it led to widespread disgust and revulsion…The monopolization of the economy also became a major topic for the print media, which helped to create a widespread awareness not only of the effects of this consolidation but also of the techniques that were being used to attain it, including the extensive use of fraud, political corruption and physical violence.
The media attack on monopolies and corruption reached a peak from 1902 to 1912, which is often referred to as the muckraking decade….This surge was facilitated by advances in printing technology, including the development of the halftone process, which made possible the low cost production of profusely illustrated magazines that were affordable (and irresistible) to the masses.
[Standard Oil persisted despite the] growing public outcry and repeated attempts to break it up, until the U.S. Supreme Court was finally able to act decisively in 1911….when, after years of litigation, the Court found Standard Oil Company of New Jersey in violation of the Sherman Antitrust Act because of its excessive restrictions on trade, particularly its practice of eliminating its competitors by buying them out directly or driving them out of business by temporarily slashing prices in a given region.
Extracts; more where this came from worth reading
“Are you bluish? You don’t look bluish,” attributed to poet Roger Joseph McGough, for the Beatles’ Yellow Submarine (1968).
by BlueStateRedhead on Sat Mar 10, 2012 at 01:18:30 AM GMT
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* [new] Yes, the parallel stands up (0+ / 0-)
…the horizontal and vertical integrations, upstream and downstream monopolies, price dumping and cosy legislative cartels. Murdoch’s empire was also warned about from the late 60s.
But whereas the free press could protest about Standard Oil’s monopolies, Murdoch was monopolising the very means of protest.