In DiLorenzo’s Never-Ending Government Lies About Markets he makes this claim, among others:
“John D. Rockefeller, for example, caused the price of refined petroleum to drop from 30 cents per gallon in 1869 to 8 cents in 1885, and continued to drop his prices for many years thereafter.”
He offers no source for this, and for my AP US History course I need to create a question, along with source documents, regarding the Industrial Revolution. Does anyone know where I can get documentation, especially graphical representation, of this claim?
I would also appreciate the same for this claim, though I especially want the one above.
“Between 1860 and 1890, real wages increased by 50 percent in America, as myriad new products were invented, and made available to the common working person thanks to low-cost, mass production. It was capital investment that dramatically increased the productivity of labor, allowing hours worked to decline from an average of 61 hours per week in 1870 to 48 hours by 1929.”
Thank you.