Jack Welch, the Man Who Broke Capitalism (2022)

Um, why was someone's perfectly reasonable take downvoted to oblivion? Too much of a newcomer? Too many Welch devotees here?

As far as I'm concerned, Welch turned GE from an industrial behemoth that more than lived up to its name, to a pale shadow of itself that has sold off almost everything. "Outsource Everything" has been an absolute disaster for our economy that will take decades to dig out of, if we even have the will to try.

It is easy to look at Globalization in retrospect and conclude that it was a failure but you will miss all the advances it brought with it. Globalization has its place and time, it was the logical next step after the USA industrialization peaked the next step to squeeze out even more from the economy.

We could have had exactly the same and possibly more if it weren’t for people like Welch. They were a hindrance to how globalization could have brought a lot more of shared wealth and less inequality

> They were a hindrance to how globalization could have brought a lot more of shared wealth and less inequality

That is not how capitalism works.

Says who?

Capitalism is a zero sum game.