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Jack Welch, the Man Who Broke Capitalism (2022)

(www.forbes.com)
122 points throw0101b | 2 comments | 02 Jul 25 10:31 UTC | HN request time: 0.509s | source
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camillomiller ◴[02 Jul 25 11:53 UTC] No.44442592[source]▶
The fundamental problem I have with this analysis is that it won’t consider a simple assumption: Jack Welch was just better at the capitalism game than others. He didn’t rewrite the written rules, he just didn’t care about the ethic-based unwritten ones. With the decline of historical ideologies, hyper-individualism took over. Welch was just very good at understanding that some invisible boundaries didn’t apply anymore, and that the zeitgeist was shifting in that direction.
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1. elcritch ◴[02 Jul 25 12:34 UTC] No.44442987[source]▶
The ethic based unwritten rules are actually required to make capitalism sustainable long term. If you don’t have those foundations capitalism will turn into oligarchy and eventually feudalism.

What many free market advocates don’t seem to understand is that free markets aren’t actually a default but require the right environment with certain government regulation and societal norms.

Folks like Jack Welch and Milton Friedman helped diminish those conditions. Now after 4 decades we’re seeing the results.

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2. camillomiller ◴[03 Jul 25 09:25 UTC] No.44453214[source]▶
Don’t forget Reaganomics