This discussion will be held in-class on Tuesday, January 18th.
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. You are to support the position of either the pluralist theory or dominance theory of business power depending on your point of view after reading the case study.
From the perspective of the theory which you have determined, consider the following prompts in your response:
- 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?
State which theory (pluralist or dominance) you personally ascribe to. Did the arguments you read on this discussion topic change your perspective?
To complete this assignment, review the Discussion Rubric document.