Question

While Mr. Rockefeller produces only about a third of the entire production, he controls all but about ten per cent, of it; that is, all but about ten per cent, goes immediately into his custody on coming from the wells... The oil is in Mr. Rockefeller's hands, and he, not the producer, can decide who is to have it. The greater portion of it he takes himself, of course, for he is the chief refiner of the country. In 1898 there were about twenty-four million barrels of petroleum products made in this country. Of this amount about twenty million were made by the Standard Oil Company...When the business man who fights to secure special privileges, to crowd his competitor off the track by other than fair competitive methods, receives the same summary disdainful ostracism by his fellows that the doctor or lawyer who is "unprofessional," the athlete who abuses the rules, receives, we shall have gone a long way toward making commerce a fit pursuit for our young men.

Based on the statement above, what type reform is the author advocating?

Answer 1

The author appears to be advocating for business and economic reforms that promote fair competition.

Step-by-step explanation:

The passage highlights the monopoly that Mr. Rockefeller (representing the Standard Oil Company) holds over the oil industry, controlling all but ten percent of the oil immediately after it comes from the wells, and refining the majority of it. This demonstrates a lack of competition in the industry, as one entity has the majority control.

The author suggests that unfair business practices, such as seeking special privileges to edge out competitors, should be met with disdain and ostracism, much like unprofessional behavior in other professions such as law and medicine.

This implies a call for ethical business practices and a level playing field where success is determined by fair competition rather than monopolistic control or manipulation.

So, the type of reform the author advocates for is likely antitrust and business ethics reform. This would entail establishing or enforcing laws and regulations to prevent monopolies, promote healthy competition, and reinforce ethical business practices.

Hope this helps! :)