Summary of David Gelles's the Man Who Broke Capitalism
(eBook)
Please note: This is a companion version & not the original book. Book Preview: #1 In 1980, Ronald Reagan was elected president with the slogan Let's Make America Great Again. The new president's economic policy, Reaganomics, prioritized lower taxes, decreased regulation, and a favorable attitude toward Wall Street. #2 When Welch took over as CEO, he was very different from Jones. He was impatient, impulsive, and crass. He spoke with a thick Boston accent, and when he grew angry, a stutter flared up. He loathed hierarchy and bureaucracy and didn't care what people thought of him as long as he was making money for the company. #3 In the mid-1970s, Welch went on tour with a GE joint venture in Japan, where he was shocked by the manufacturing process. When America's standing in the world was questioned in 1980, Welch and Jones wrote a letter to shareholders acknowledging the need for urgent change. #4 Jack Welch, the iconic chairman of GE, drastically overcorrected when he took over. He abandoned American manufacturing and began shutting down factories around the country.
Notes
IRB Media. (2022). Summary of David Gelles's the Man Who Broke Capitalism. [United States], IRB.
Chicago / Turabian - Author Date Citation (style guide)IRB Media. 2022. Summary of David Gelles's the Man Who Broke Capitalism. [United States], IRB.
Chicago / Turabian - Humanities Citation (style guide)IRB Media, Summary of David Gelles's the Man Who Broke Capitalism. [United States], IRB, 2022.
MLA Citation (style guide)IRB Media. Summary of David Gelles's the Man Who Broke Capitalism. [United States], IRB, 2022.
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