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Jack Welch, the Man Who Broke Capitalism (2022)

(www.forbes.com)
122 points throw0101b | 1 comments | 02 Jul 25 10:31 UTC | HN request time: 0.266s | source
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flyinghamster ◴[02 Jul 25 11:41 UTC] No.44442487[source]▶
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.

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bit1993 ◴[02 Jul 25 11:53 UTC] No.44442590[source]▶
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.
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camillomiller ◴[02 Jul 25 11:55 UTC] No.44442611[source]▶
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
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bit1993 ◴[02 Jul 25 11:58 UTC] No.44442653[source]▶
> 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.

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pyrale ◴[02 Jul 25 12:24 UTC] No.44442885[source]▶
Says who?
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bit1993 ◴[02 Jul 25 12:48 UTC] No.44443115[source]▶
Capitalism is a zero sum game.
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QuadmasterXLII ◴[02 Jul 25 13:09 UTC] No.44443299[source]▶
How on earth do you justify this claim?
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1. vaporwario ◴[02 Jul 25 20:28 UTC] No.44448450[source]▶
The more capital you have, the more purchasing power you have relative to the other players in the capitalist game. There is a fixed amount of purchasing power (the total sum of capital). Increasing currency in circulation does not increase the number of things that can be purchased with that currency, it just changes the distribution of purchasing power.