What to Say About the Captain of an Industry: John D. Rockefeller

While completing research, it is increasingly difficult to find a historian who had a bad word to say about John D. Rockefeller; this fact leads to the conclusion that, despite the reputations gained by fellow wealthy industrialists, Rockefeller was a good man. When taking into account his treatment of Standard Oil employees and philanthropy, it is clear that Rockefeller had a deep care for those less fortunate than himself (essentially everybody). Therefore, John D. Rockefeller can, to a great extent, be regarded truly as a captain of industry rather than a robber baron.

When used in the context of the Gilded Age, robber barons refer to “a set of avaricious rascals who habitually cheated and robbed investors and consumers, corrupted government, and fought ruthlessly among themselves”. The term does not have the best connotation. One study performed by Professor C.M. Destler during the Gilded Age showed that, of the 43 monopolists studied, “16 had milked their corporations for their own profit . . . 13 profited from control and manipulation of the press . . . 13 practiced political corruption. . . [and] 16 exhibited marked hostility to the labor movement”. This study epitomizes the robber baron: a person who earns money through manipulation of the public and employees. However, the title captain of industry “carries implications of personal wealth . . . along with a general tone of approbation that is sometimes hedged or grudging, yet unmistakable”. Already the term has a more positive connotation, attributing praise to the Gilded Age titans. Further emphasizing their importance: “The modern captain of industry guides and directs the productive forces of society”. Therefore, the positive views on Rockefeller and his business practice support the idea that he is truly a society-helping captain of industry, rather than a corrupted robber baron.

Rockefeller’s philanthropy first and foremost showed his commitment to society and his role as a captain of industry. By the end of the 19th century, Rockefeller was the second richest man in America: his net worth was $200 million, surpassed only by Andrew Carnegie’s $425 million (Haskell 131). Yet his wealth was not kept in tight arms, for he saw his fortune as a “public trust, not as a private indulgence,” and by 1892 he had given a total of $1.5 million to beneficiaries. Nothing better emphasizes the extent of Rockefeller’s philanthropy than the old story of his dimes: it is said that Rockefeller would give a dime to nearly every person he saw. In 1920s standards, a dime was worth considerably more than a dime is worth now: what is now 10 cents was once worth 5 dollars. Rockefeller’s gifts to research facilities in the sciences and elsewhere were so great that the Rockefeller Foundation was founded in 1913 in order to continue his goal of charity worldwide (Corner 250). Rockefeller’s donations greatly benefitted society as a whole, especially in the case of scientific research. By his philanthropy and lack of greed, it is seen that Rockefeller was not close to being a true robber baron. Rockefeller was not only generous with his money, but he was also aware of the great effects his donations had on the advancement and promotion of knowledge.

To further support the idea that he was a true captain of industry, Rockefeller strongly valued fair, just business practice. Rockefeller believed that “his massive philanthropy paled in importance beside the good he had done in creating jobs and furnishing affordable kerosene at Standard Oil”. He ran Standard Oil efficiently and ethically, thus increasing his reputation as a true captain of industry. Rockefeller’s work began in 1865, and he was the first man to ever seek the control of oil fields. Thus, he had the advantage of successful business in the mere foundation of his company. Though Standard Oil was dissolved after being identified and ruled as a monopolist organization, the manner with which Rockefeller rose to the top was not unethical. Rather than participating in predatory pricing, Rockefeller simply utilized the efficient economics of the time period to find success for Standard Oil. He did not exploit other businesses or industries, but bargained effectively and completed mutually fortuitous deals for all companies involved.

Rockefeller proved himself a captain of industry also in how he handled his employees. He treated his employees with care and consideration, unlike many other industries of the age (meat packing and railroad among others). In the beginnings of Standard Oil, Rockefeller himself met with and hired employees. He formed connections with his staff, and was incredibly well-liked by the people he had hired. Furthermore, employees were allowed and encouraged to send Rockefeller complaints and suggestions, and he was known to respond earnestly. In an age of economic growth and increasing demand for jobs, many people were hired in factories at low wages and horrible conditions. Yet Rockefeller stood out amongst other large businesses, for he paid salaries above the industry average, and provided his workers with hospitalization and retirement pensions.

Though Rockefeller was indubitably a generous man, donating his fortune and treating even the lowest of workers with care, some do not see his benefactions as a repentance for the large fortune he gained at the hands of workers. One historian says: “There is no need for expiation by philanthropy. There is a need for continuing the essential contribution of John D. Rockefeller by studying and appraising the functions and position of business”. In other words, Rockefeller’s philanthropy should not be the prime focus when judging his character; his business practice and growth should be in the limelight. Others also mention the idea that Rockefeller drove small refineries out of business and bought them to increase his power in the oil business. This, of course, goes against the standard rules of business practice, and if it can be shown indisputably that Rockefeller did such a practice, then he would be seen more consistently as a robber baron. Yet historians in support of Rockefeller’s practice have shown that “Rockefeller’s rivals were bought out on rather favorable terms”. He did not drive companies into the ground and steal business; he compromised and formed a monopoly properly, if one can say that. Proponents of Rockefeller’s robber baron-hood argue that his philanthropy was for “purely selfish reasons” and that his charity was means to fulfill “his need to prove that rich businessmen could honorably discharge the burden of wealth”. Even if this is true, does the intention behind his good deeds truly matter? Or is it simply the benefits of the actions he took that allow him the honor of being a captain of industry?

Though few historians view John D. Rockefeller as a greedy, corrupted robber baron, his extensive philanthropic actions, wonderful treatment of employees, and ethical business practices more truly categorize Rockefeller as a captain of industry. His wealth has aided in the production of scientific knowledge and the foundation of countless museums, hospitals, and schools. He balanced great wealth with incredible charity, and refused to be corrupted by the power placed upon him. In an age when money defiled men, Rockefeller showed his nation that, truly, fortune has the power of redemption, and that not all people are apt to fall into the hands of endless greed.