'The Octopus: A Story of California' by Frank Norris is a historical novel illustrating the conflict between wheat farmers and a ruthless, monopolistic railroad company in late 19th century California. The novel depicts the struggle of the powerless farmers against the powerful railroad, symbolized by the "octopus". It explores themes of political corruption, corporate greed, and the fight for justice and rights. Norris uses this narrative to criticize capitalism and showcase the plight of the working class.