History Thesis: Reconstruction Era
At the same time these economic struggles are taking place for African-Americans and later immigrants, there were Americans who were financially well-off. Following the Civil War and Reconstruction, the economy was weak and the market had low barriers-to-entry. This was a result of the governments enforcement of “Laissez-Faire”, meaning “hands-off”, and the lack of government regulations. Few took advantage of this raw economy with few rules, but for those who did it paid off significantly. Through hard work, and fortunate investing, anyone could climb the ladder to success in an unbelievably fast rate. One of the success stories was John Rockefeller, founder of Standard Oil, and a prominent businessman. Rockefeller revolutionized the way business was conducted in America. His vision was to obtain full horizontal integration by building a monopoly and destroying his competitors. He was cut-throat in his approach to business, sometimes cutting deals with railroads to run people out of business. In a six-week period he remarkably took over 22 of 26 competitors in a six-week period. He proved Horatio Algers claim that, “through hard-work and a little luck, anyone can climb the ladder to success”. Rockefeller maximized the usage of capitalism, and emulated the “American Dream”. The lack of government regulation led to an unbalanced distribution of wealth across the different