by Gary North
David Rockefeller is arguably the longest-lived power behind the throne in American history.
He received a Ph.D. in economics from the University of Chicago in 1940. Yes, his grandfather had provided money to create the school, but the economics department was rigorous. He did not get a free ride academically. Yet he showed no signs of that department’s moderate free market outlook.
He served as chairman of Chase-Manhattan Bank (1969-81), a giant bank in his day, which merged with a giant, J. P. Morgan-Chase. Wikipedia writes:
Under his term as CEO, Chase spread internationally and became a central pillar in the world’s financial system; Chase has a global network of correspondent banks that has been estimated to number about 50,000, the largest of any bank in the world. In 1973, Chase established the first branch of an American bank in Moscow near the Kremlin, in the then Soviet Union. That year Rockefeller traveled to China, resulting in his bank becoming the National Bank of China’s first correspondent bank in the United States.