How Jack Welch’s Success Wrecked the Idea of the American Company

The recently deceased business icon pioneered mergers and acquisitions, stock buybacks, and offshoring

Matt Stoller
Marker
Published in
4 min readMar 5, 2020

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General Electric Chairman and CEO John F. Welch speaks during a news conference November 27, 2000, in New York City.
Photo: Chris Hondros/Hulton Archive/Getty Images

InIn early February of 1981, President Ronald Reagan picked his antitrust chief, William Baxter, whose arrival signified the reconstitution of monopoly power in America. Baxter…

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