145 Results for “William Lazonick”
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News
CNN: Tax cut scoreboard: Workers $6 billion; Shareholders $171 billion
Feb 16, 2018
INET grantee William Lazonick explains how the Trump tax cut is resulting in buybacks on Wall Street and bonuses for CEOs
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News
William Lazonick’s INET funded research was cited in Crenshaw’s speech at the SEC
Mar 10, 2021
“And what if there is a stock buyback during the period the share price is inflated? Does that harm shareholders because the company is spending money to repurchase its stock, or does it actually further benefit them by potentially raising earnings per share (EPS)?” … Citation: William Lazonick, The Financialization of the U.S. Corporation: What Has Been Lost and How It Can Be Regained, 36 Seattle U. L. Rev. 857, 859 (2013) (noting that trillions of dollars are spent on share buybacks and that “corporate executives who make these decisions are themselves prime beneficiaries of this focus on rising stock prices as a the measure of corporate performance”)
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Video
The Rise and Fall of the American Middle Class
Apr 19, 2017
How rationalization, marketization, and globalization characterize the U.S. economy during the past 50 years, and how the behavior of companies and fate of American workers have changed during this process.
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News
William Lazonick's INET-Funded Research Is Cited in Quartz
Feb 17, 2022
“What is the motivation for tax avoidance? To maximize profits and juice the stock price, of course. A research team led by William Lazonick at the University of Massachusetts reports in Harvard Business Review that from 2009 to 2019, S&P 500 companies spent over 90% of net income on buybacks and dividends, with the highest levels achieved after the 2017 tax cuts, in 2018 and 2019. Taking on corporate debt to finance share repurchases has become commonplace. Never mind that share buybacks deplete corporate treasuries of cash to weather setbacks and to fund productive investment in labor and R&D.”
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Article
VP Biden Cites Lazonick in Critique of Stock Buybacks
Sep 28, 2016
Vice President warns that corporate stock buybacks restrict America’s long-term prosperity, citing the research of Institute grantee William Lazonick who has long argued the same
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News
Washington Post: Don’t Let Pay Increases Coming Out of Tax Reform Fool You
Feb 6, 2018
In their op-ed in the Washington Post, INET grantee William Lazonick and Rick Wartzman show how companies are spending their tax savings on investors, not workers.
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Video
The Hidden Costs of Healthcare
Nov 20, 2019
INET experts discuss how financialization has driven up costs of healthcare—and how we can stop it.
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Person
William Lazonick
Professor of Economics, University of Massachusetts Lowell President, The Academic-Industry Research Network -
Working Paper
CommentaryMarketization and Financialization
Apr 2017
How the U.S. New Economy Business Model Has Devalued Science and Engineering PhDs
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Article
To Boost Investment, End SEC Rule Encouraging Buybacks
Sep 14, 2014
The New York Times is having a “Room For Debate” discussion on its Opinion Page about how corporations should handle profits based on the Harvard Business Review article “Profits Without Prosperity” by William Lazonick of the University of Massachusetts Lowell, who is a grantee of the Institute for New Economic Thinking. The discussion features contributions by Bruce Greenwald, Peter Thiel, and Lazonick, among others. Lazonick argues that the capital being used for stock buybacks would be better spent on investment. Lazonick’s “Room For Debate” piece is below. To read the full discussion on The New York Times, click here.
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Working Paper
Working paperInnovative Enterprise Solves the Agency Problem
Oct 2017
The Theory of the Firm, Financial Flows, and Economic Performance
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Article
How the U.S. New Economy Business Model has devalued science & engineering PhDs
May 9, 2017
This note comments on Eric Weinstein’s, “How and Why Government, Universities, and Industries Create Domestic Labor Shortages of Scientists and High-Tech Workers,” posted recently on INET’s website.
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News
HuffPo Cites INET Stock Buyback Research
Apr 19, 2019
The Huffington Post features INET research on stock buybacks
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Working Paper
Working Paper SeriesUS Pharma’s Financialized Business Model
Jul 2017
Price gouging in the US pharmaceutical drug industry goes back more than three decades.
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News
American Prospect Features INET Pharma Research
Aug 27, 2018
The American Prospect highlights William Lazonick’s INET paper on US Pharma’s Financialized Business Model.