Final answer:
John D. Rockefeller believed in creating monopolies through horizontal integration and trusts, which helped him dominate the oil industry. He also felt it was the wealthy's duty to contribute to the community, leading to significant philanthropic endeavors despite his aggressive business tactics.
Step-by-step explanation:
John D. Rockefeller, the founder of Standard Oil, believed in the power of monopolies and applied the business strategy of horizontal integration. He merged with other oil companies or drove competition out of the market by underpricing his products. By creating trusts, Rockefeller was able to control numerous oil refineries, dominating the oil industry. Once he had control, he raised oil prices significantly. This business model made him one of the wealthiest individuals and played a key role in shaping corporate America.
His practices, however, were often viewed as predatory and led to critiques from progressive reformers about the impacts on both the working class and the concentration of wealth and power. Rockefeller also believed that it was the responsibility of the wealthy to give back to the community. Despite his aggressive and often ruthless business practices, he engaged in several philanthropic efforts. He stood out from some of his peers in this regard, as not all titans of industry shared this belief in philanthropy.