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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

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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