INTRODUCTIONFrom Capitalism toDemocratic Enterprise
Minding the Economic Imperatives of Knowledge
IN LATE 1997, Bernard Ebbers, CEO of WorldCom, a small, obscure firm in Mississippi, announced that he was buying MCI for $42 billion of his company’s stock. It was the largest takeover in history. How could this unknown man, a former gym teacher, emerge from nowhere with no capital to seize control of the second largest telecommunications company in America and gain immediate dominance over the global communications market?
Ebbers forged this empire with little more than a keen understanding of how a jumble of diverse companies could be integrated to deliver a complete stream of communication services around the world—a task that eluded AT&T, MCI, ...
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