Jack Welch: The Man Who Broke Capitalism?

David Gelles' new book, *The Man Who Broke Capitalism*, examines Jack Welch's profound impact on American business during his tenure at General Electric. Welch's relentless pursuit of shareholder value maximization, employing layoffs, outsourcing, offshoring, acquisitions, and buybacks, became a new playbook for American corporations. Gelles argues this shareholder-centric capitalism has led to unprecedented socioeconomic inequality and harmed many companies that adopted it. The book connects Welch's management style to the Boeing 737 Max crisis and rising income inequality. It concludes with a call to rebalance corporate profit distribution, prioritize worker well-being, and create a more equitable economic system.