Read the Standard Oil case study beginning on page 75 of the textbook as well as pp. 145–150 of Exxon and the Control of Oil. Your instructor will designate whether you are to support the position of either the pluralist theory or dominance theory of business power.
From the perspective of the theory which you have been assigned, consider the following prompts in your initial post:
- With reference to the seven levels of corporate power addressed in the text, how did the power of Standard Oil change society?
- Was the power exercised in keeping with the social contract of Rockefeller’s era?
- Does the story support the position of either the pluralist or dominance theory of business power?
Also in your post, state which theory (pluralist or dominance) you personally ascribe to. Did the arguments you read on this discussion topic change your perspective?