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.

I'm not really sure how globalization could have been stopped after the invention of the shipping container, which was ""the internet for physical objects"". Especially after the closed Soviet economies failed. I suppose some Americans would have preferred a situation where China stayed Communist or collapsed.

>>I suppose some Americans would have preferred a situation where China stayed Communist or collapsed.

The definition of Communism per the west, is something that always fails by default. The way Chinese define communism is doing whatever it takes to win.

When you remove all the abstract words behind this game, a simple philosophy is if you do the right things you win. You can call it capitalism, communism or whatever you want.