(Yes, they deserved some, I won't argue that they weren't human. Burton W. Folsom, Jr. (born 1947 in Nebraska) is an American historian and author who holds the Charles F. Kline chair in history and management at Hillsdale College and is a senior fellow in economic education for the Mackinac Center for Public Policy. Yet, for some reason, this logic is not applied to the great entrepreneurs of our past. The omitting of the Russo-American oil was so striking that I checked every college American history text that I could find (twenty total) to see if this is typical. I have my theories but I won’t focus on that here.I often point out that the government usually stands behind oppressive monopolies – the kind most people think about when they hear the word, “Monopoly.” The government does this with direct political favors and/or indirect “feel good” laws that have the opposite effect of their stated goal.

This book has fascinating history that's not in any standard history book. In every case listed in this book free market entrepreneurs out competed government subsidized companies through their innovations, quality of materials, cost effectiveness, and efficiency. Instead the court essentially said only the Federal Government is allowed to forcibly pick winners and losers.Vanderbilt eventually struck out on his own and started his own steamboat business. Well written and, amazingly, published in 1987, yet many of the myths Folsom destroys are still perpetuated in the mainstream. As a high schooler, this book was a tremendous account into the entrepreneurs that shaped and were the foundation for American business today. Folsom gives pages upon pages of examples of important details that are excluded from college textbooks.Folsom says he studied three of the best-selling college textbooks in American history: The American Pageant, The American Nation, and The National Experience. 110 Elden Street. The state next failed in the role of an entrepreneur when it tried to build and operate an armor plant in competition with Charles Schwab and Bethlehem Steel. Presented in biographical story fashion, the book makes interesting reading, although the closing chapter (where the author attempts to sum things up) is superfluous. It is very sad that liberal historians and the hire education elite have misguided our youth on this important subject. It was this monopoly that Thomas Gibbons, a New Jersey steamboat man, tried to crack when he hired young Cornelius Vanderbilt in 1817 to run steamboats in New York by charging less than the monopoly rates.”Vanderbilt ran steamboats in defiance of the law and evaded capture while moving passengers between Elizabeth, New Jersey, to New York City. Market entrepreneurs succeed through innovation and providing the best product at the lowest price. Furthermore, Rockefeller wasn’t able to get the largest rebates until after he built the biggest business.I will leave you with a couple paragraphs directly from this chapter that better highlight some of these glaring omissions:“Perhaps even more misleading than the faulty stress on the rebates is the omitting of the most important feature of Rockefeller’s career: his thirty-year struggle with Russia to capture the world’s oil markets. It opened my eyes to a whole world of business and history that I thoroughly enjoyed!This book needed to be written in order to stand in opposition to the way liberal historians and the hire education elite have painted this time period. The political entrepreneurs often fit the classic Robber Baron mold; they stifled productivity (through monopolies and pools), corrupted business and politics, and dulled America's competitive edge. We study history to learn from it. )I thought this was a good, unconventional look at the big businessmen who won more bad press than they deserved. Click on links where available to verify price accuracy.Note: Publishers, authors, and service providers never pay to be reviewed.

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