Wildcatter vs wildcatter
I've constantly used
E W Marland as an icon of Social Economics.
He wasn't as important as Henry Ford, but I've lived in Marland's world and have direct knowledge of his accomplishments.
What did he accomplish? Conoco. A company that took care of its loyal employees. Ponca. A beautiful city with excellent parks and schools, and a lingering tone of solid civilization. 50 years of prosperous living for 20,000 people.
The prosperity is gone now, after many layers of LBOs that finally removed all of Conoco from Ponca, but the beauty remains.
That's an accomplishment by any definition. You won't find modern capitalists setting the tone
for a city.
Now a different comparison pops up. Marland was originally a wildcatter. He must have been a sharp operator because he succeeded. But the modern definition of Sharp Wildcatter is somewhat different, just as the modern definition of Industrialist is different.
= = = = =
For an icon of the Modern Sharp Wildcatter, let's take James Henrikson.
What did he accomplish?
Massive fraud, at least four murders, two escape attempts, heroin peddling.
Conoco's upper-level employees lived in neighborhoods like this:
Conoco's lower-level employees lived in neighborhoods like this:
Henrikson's employees live in neighborhoods like this:
Marland had to negotiate with Indian tribes for the best oil land. Result: The Osage got rich, with individual incomes well above Conoco's upper-level employees.
Henrikson had to negotiate with Indian tribes for the best oil land. Result: The Mandan chief got rich
but the tribe gained nothing.
Marland's most famous legacy:
Henrikson's most recent legacy:
A failed escape attempt yesterday.
Yes, we are indeed fortunate to live in Progressive Times, when Market Efficiency has conquered all. Chiefs get everything. Negative Externalities get graves.
Labels: Carbon Cult, the broken circle