The Man Who Broke Capitalism

In this incisive examination, New York Times reporter David Gelles critiques the legacy of Jack Welch, the former CEO of General Electric, arguing that his tenure marks the inception of the detrimental practices that plague modern capitalism. Gelles outlines how Welch's relentless focus on shareholder value led to massive job losses, weakened the manufacturing sector, and contributed to rising socioeconomic inequality. He also illustrates the broader impact of Welch’s strategies on American business, while highlighting a movement towards more responsible corporate practices that aim to prioritize long-term sustainability over short-term profits.