145 Results for “William Lazonick”
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News
William Lazonick is quoted in on the stock market practices of Big Pharma
Oct 29, 2020
“Executives have an interest in getting the stock price up and price gouging customers is one way they can do this,” said William Lazonick, professor emeritus of economics at University of Massachusetts and co-founder of the Academic-Industry Research Network. While many drug companies argue that they use their vast profits to fund ongoing pharmaceutical innovation, Lazonick said, “we’ve shown that most of these companies don’t do that.” Instead, the soaring prices fuel soaring stock prices and executive pay, which is often based largely on that price.” — INET Grantee William Lazonick
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News
William Lazonick’s INET funded research is cited in Counter Punch
Mar 22, 2021
“As William Lazonick and other analysts have pointed out, stock buybacks artificially inflate executive pay and drain capital that could be put to productive purpose. .[xxv] — Sarah Anderson, Counter Punch [xxv] William Lazonick, “Profits Without Prosperity,” Harvard Business Review, September 2014.”
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News
INET funded research by William Lazonick is cited in the Wall Street Journal
Dec 7, 2020
“Critics led by William Lazonick, economics professor emeritus at the University of Massachusetts Lowell, say buybacks starve companies of cash for innovation and worker pay, and favor executives aiming to jack up the stock prices because their compensation is increasingly stock-based. The buyback trend has become controversial since a 2014 article by Prof. Lazonick in the Harvard Business Review, “Profits Without Prosperity.” The S&P 500 companies that had been publicly listed from 2003 through 2012, he found, had spent amounts equal to 54% of their earnings for buybacks and 37% for dividends, leaving “very little for investments in productive capabilities or higher incomes for employees.” — Randall Smith
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Video
How Government Helps, and Wall Street Hurts, the Innovative Enterprise
Aug 21, 2011
Innovation drives economic growth and welfare, and the industrial corporation drives innovation, says William Lazonick. But just how do corporations innovate?
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News
William Lazonick's research on stock buybacks is featured in Retail Dive
Nov 3, 2020
William Lazonick, president of the Academic-Industry Research Network and a professor emeritus of economics at the University of Massachusetts, who has devoted much of his research to the topic of buybacks, has written that the rule change “in effect gave corporations license to use open-market repurchases to manipulate the market.” … In an interview, Lazonick told Retail Dive, “These distributions to shareholders, particularly buybacks on top of dividends, are at the expense of keeping people employed, rewarding them for the work they’ve done, and investing in new products and processes.”
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News
William Lazonick in the New York Times on Pharma CEO Pay
Feb 26, 2019
INET grantee William Lazonick’s research on drug pricing is featured in a New York Times op-ed
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News
Lazonick and Shin's INET funded research is cited in Naked Capitalism
Jan 26, 2021
“In taking over industrial companies, financial managers focus on the short run, because their salary and bonuses are based on current year’s performance. The “performance” in question is stock market performance. Stock prices have largely become independent from sales volume and profits, now that they are enhanced by corporations typically paying out some 92 percent of their revenue in dividends and stock buybacks.[6]” — Michael Hudson, Naked Capitalism [6]William Lazonick, “Profits Without Prosperity:Stock Buybacks Manipulate the Market and Leave Most Americans Worse Off,”Harvard Business Review, September 2014. And more recently, Lazonick and Jang-Sup Shin, Predatory Value Extraction: How the Looting of the Business Corporation Became the U.S. Norm and How Sustainable Prosperity Can Be Restored(Oxford: 2020).
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Video
Lazonick links stock buybacks to America’s jobs challenge
Nov 4, 2016
In an Al Jazeera documentary “In Search of the Great American Job”, Institute scholar William Lazonick offers some arch insights into the relationship between financialization — particularly the “shareholder value” ideology in corporations, which drives the transfer of profits to shareholders through stock buybacks — and job creation and inequality.
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Video
Banning Buybacks
Dec 4, 2019
Stock buybacks are giveaways for greedy investors at the expense of everyone else.
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News
William Lazonick in The New Yorker
Jun 20, 2019
INET grantee William Lazonick is profiled in The New Yorker
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Article
INET Grantee Lazonick’s Research Shapes DC Share Buyback Debate
Dec 22, 2017
Sen. Tammy Baldwin features arguments in questions to SEC nominees, pharmaceutical industry witness
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News
CNN: Are Stock Buybacks Deepening America's Inequality?
Mar 5, 2018
One of Wall Street’s favorite tools could be deepening the growing chasm between America’s rich and poor, according to INET grantee William Lazonick.
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News
Vox Cites Bill Lazonick Research
Aug 15, 2018
Vox cites William Lazonick’s INET paper on shareholder value
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News
CNN: Democrats Plan Crackdown on Booming Stock Buybacks
Mar 21, 2018
INET grantee William Lazonick explains why Sen. Tammy Baldwin is proposing to ban stock buybacks.
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News
Bill Lazonick Research in New York Times
Nov 19, 2018
William Lazonick’s INET research is featured in his New York Times op-ed
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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.
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Working Paper
Working PaperThe Unmaking of the Black Blue-Collar Middle Class
May 2021
How once-promising Black upward mobility reversed course, and what can be done about it
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News
Washington Post Features Bill Lazonick's Research
Aug 16, 2018
The Washington Post cites William Lazonick’s INET paper on shareholder value
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News
INET working paper on how maximizing shareholder value led to minimizing national interests is cited in The American Prospect
Dec 7, 2020
“If companies continue to prioritize maximizing shareholder wealth at the expense of other key stakeholders, and at the expense of investing in innovation, then the Green New Deal could reinforce long-standing income and wealth inequities and the decline in innovation in the U.S. economy (for an important example, Bill Lazonick and Matt Hopkins document how maximizing shareholder value minimized the strategic national stockpile for ventilators and personal protective equipment).” —Lenore M Palladino
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News
William Lazonick’s INET funded research is cited in the American Prospect.
Oct 26, 2021
“Nobody but those top corporate executives was really paying attention to share buybacks until the middle of the last decade, when University of Massachusetts economist William Lazonick wrote an article for the Harvard Business Review documenting the surprising and depressing fact that the companies that had belonged to the Fortune 500 during the previous decade had spent so much on share buybacks and dividends that the total was either equal to or actually exceeded their profits.”
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Article
Financialization of the U.S. Pharmaceutical Industry
Dec 2, 2019
Pharmaceutical drugs are often a matter of life or death. It should be a prime objective of government policy to rid the industry of financialization.
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Article
How MBA Programs Drive Inequality
Jul 7, 2016
Business school students are taught to extract resources instead of creating value.
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Working Paper
Conference paperThe Innovative Enterprise and the Developmental State: Toward an Economics of “Organizational Success”
Apr 2011
Investment in productive capabilities provides the foundation for economic growth.
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Working Paper
Working Paper SeriesWho Invests in the High-Tech Knowledge Base?
May 2014
A nation must accumulate a high-tech knowledge base to prosper.
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Article
Sick with “Shareholder Value”: US Pharma’s Financialized Business Model During the Pandemic
Dec 6, 2022
Evidence sharply contradicts PhRMA’s contention that its member companies need unregulated drug prices to generate profits that they then reinvest in drug innovation.
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Article
Experts: Negotiating Big Pharma's Prices Won't Stifle Innovation—They Don't Use the Money to Innovate!
Mar 14, 2024
Industry lobbyists vehemently oppose Medicare drug price negotiations. However, physician-scientist Fred Ledley and economist William Lazonick debunk their arguments.
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Article
Could fiscal policy changes revive US economic growth? Some contributions towards answering that question
May 19, 2016
Renewed interest by policymakers in the challenges of long-term slow economic growth highlights the importance of the Institute’s research
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Article
Why Corporate CEO Pay is Routinely Undercounted
Sep 15, 2016
An Institute for New Economic Thinking Working Paper by William Lazonick and Matt Hopkins reveals that much reporting on executive pay relies on systems of measurement that underreport real compensation
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Working Paper
Working Paper SeriesWhy the CHIPS Are Down: Stock Buybacks and Subsidies in the U.S. Semiconductor Industry
Oct 2021
To strengthen the American semiconductor industry, Congress should condition additional funds on suspending stock buybacks
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Article
Letter to SEC: How Stock Buybacks Undermine Investment in Innovation for the Sake of Stock-Price Manipulation
Apr 1, 2022
A comment on the Securities and Exchange Commission’s proposed rule “Share Repurchase Disclosure Modernization”
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Working Paper
Grantee paperThe Financialization of the US Corporation: What Has Been Lost, and How It Can Be Regained
Jun 2012
Background paper for a presentation to the Seattle University School of Law Berle IV Symposiun, “The Future of Financial/Securities Markets,” London June 14-15, 2012.
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Working Paper
Working Paper SeriesEmployment Mobility and the Belated Emergence of the Black Middle Class
Jan 2021
“Build back” means restoring the government and business investments in the productive capabilities of the U.S. labor force that created a growing middle class in the three decades after World War II
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Working Paper
Conference paperProfits Without Prosperity: How Stock Buybacks Manipulate the Market, and Leave Most Americans Worse Off
Apr 2014
Five years after the end of the Great Recession, corporate profits are high and the stock market is booming. Yet most Americans are not sharing in the apparent prosperity.
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Video
The Myth of Maximizing Shareholder Value
Jan 22, 2014
Lazonick discusses how we evolved from a society in which corporate interests were largely aligned with those of broader public purpose into a state where crony capitalism, accounting fraud, and corporate predation are predominant characteristics.
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Webinars and Events
Hidden Costs Of Healthcare
ConferenceNov 15, 2019
Increased financialization is driving healthcare costs and must be addressed in our nation’s public policy.
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Working Paper
Working Paper SeriesThe Functions of the Stock Market and the Fallacies of Shareholder Value
Jun 2017
Conventional wisdom has it that the primary function of the stock market is to raise cash for companies for the purpose of investing in productive capabilities. The conventional wisdom is wrong.
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Working Paper
Working Paper SeriesSkill Development and Sustainable Prosperity: Cumulative and Collective Careers versus Skill-Biased Technical Change
Dec 2014
There is widespread and growing concern about the availability of good jobs in the U.S. economy. Inequality has been growing for thirty years and is now at levels not seen since the 1920s. Stable and remunerative employment has become harder for U.S. workers to find.
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Working Paper
Working Paper SeriesEmployment and Earnings of African Americans Fifty Years After: Progress?
Jul 2020
To fulfill MLK’s vision of jobs and freedom for Black Americans, Washington must rein in corporate greed
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Working Paper
Working Paper SeriesThe Equal Employment Opportunity Omission
Dec 2016
On June 2, 1965, under a mandate established by Title VII of the Civil Rights Act of 1964, the U.S. Congress created the Equal Employment Opportunity Commission (EEOC) to enforce federal anti-discrimination laws related to employment. The expectation was that African Americans would be prime beneficiaries of the EEOC.
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News
Business Insider quotes and cites Lazonick’s INET-funded research on Boeing’s stock buybacks.
Feb 12, 2024
Business Insider quotes and cites William Lazonick’s INET-funded research on Boeing’s stock buybacks. Cross-posted in MSN, Yahoo Finance, Business News, AOL, News Break, Star News, and Web Today.
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Webinars and Events
Resolving Global Vaccine Inequity
ConferenceInnovation, Capabilities and Governance
Apr 11–12, 2024
The development of COVID-19 vaccines within a year of the emergence of SARS-CoV-2 was an unprecedented triumph of scientific research that saved millions of lives. In contrast, the lack of global coordination to manage intellectual property, technology transfer, production, financing, and distribution of vaccines led to excess deaths and losses in economic output.
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Working Paper
Working Paper SeriesPricing for Medicine Innovation: A Regulatory Approach to Support Drug Development and Patient Access
Feb 2022
US regulators can step in to ensure drug pricing both supports patient access and drug development
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Working Paper
Working Paper SeriesThe Mismeasure of Mammon: Uses and Abuses of Executive Pay Data
Aug 2016
Report to the Institute for New Economic Thinking on the statistical measurement and policy implications of the compensation of the highest- paid U.S. corporate executives
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Working Paper
Working Paper SeriesHow the Disappearance of Unionized Jobs Obliterated an Emergent Black Middle Class
Jun 2020
In this introduction to our project, “Fifty Years After: Black Employment in the United States Under the Equal Employment Opportunity Commission,” we outline the socioeconomic forces behind the promising rise and disastrous fall of an African American blue-collar middle class.
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Working Paper
Conference paperInnovative Enterprise and Sustainable Prosperity
Oct 2017
We want an economy that generates stable and equitable growth—or what I call “sustainable prosperity.” We want productivity growth that makes it possible for the population to have higher living standards over time. We want an equitable sharing of the gains from productivity growth among those whose work efforts and financial resources contribute to that growth. And we want sufficient job stability to enable workers to remain in productive employment for some four decades at work while providing them with enough savings to provide them with adequate incomes over some two decades of retirement.
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Article
Three Things to Know to Hold Wells Fargo Accountable
Oct 11, 2016
Justice requires that the media, policy makers, and the public understand why corporations engage in misconduct and fraud
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Working Paper
Working Paper SeriesIs the Most Unproductive Firm the Foundation of the Most Efficient Economy? Penrosian Learning Confronts the Neoclassical Fallacy
Jan 2020
To get beyond the neoclassical fallacy, economists have to stop relying on constrained-optimization methodology
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Working Paper
Working Paper SeriesChina’s Development Path: Government, Business, and Globalization in an Innovating Economy
Aug 2022
China’s successful technological development path stands in contrast to the corporate financialization model in the United States
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Working Paper
Working Paper SeriesInnovative Enterprise or Sweatshop Economics? In Search of Foundations of Economic Analysis
Oct 2015
By integrating the history of industrial development in Britain and the United States with the ideas of leading economic thinkers, this essay demonstrates the absurdity of perfect competition as the ideal of economic efficiency.
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Article
A Public Comment on the SEC Pay Ratio Disclosure Rule
Mar 29, 2017
In this comment, we explain our objections to the SEC’s current formulation of the Pay Ratio Disclosure Rule on each of three grounds: the erroneous estimation of CEO pay; the unclear specification of the “median” worker; and the risk of normalizing a pay ratio that is far too high. Then we present the latest data on the remuneration of the 500 highest-paid CEOs in the United States, demonstrating the way in which the SEC’s measure of CEO pay that enters into the CEO-to-median-worker pay ratio tends to systematically underestimate actual executive pay.
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Working Paper
Working PaperHow “Maximizing Shareholder Value” Minimized the Strategic National Stockpile: The $5.3 Trillion Question for Pandemic Preparedness Raised by the Ventilator Fiasco
Jul 2020
The success of projects for pandemic preparedness and response depends on the strength of government-business collaborations.
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Working Paper
Working Paper SeriesLabor in the Twenty-First Century: The Top 0.1% and the Disappearing Middle-Class
Jan 2015
The ongoing explosion of the incomes of the richest households and the erosion of middle-class employment opportunities for most of the rest have become integrally related in the now-normal operation of the U.S. economy.
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Article
Yellen Challenges Economists Amid Elusive Great Recovery
Oct 24, 2016
Like the Great Depression and the stagflation of the ’70s, the anemic growth of the U.S. economy can’t be understood or remedied without changes in economists’ thinking
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Working Paper
Working Paper SeriesThe Value-Extracting CEO: How Executive Stock-Based Pay Undermines Investment in Productive Capabilities
Dec 2016
The business corporation is the central economic institution in a modern economy. A company’s senior executives, with the advice and support of the board of directors, are responsible for the allocation of corporate resources to investments in productive capabilities. Senior executives also advise the board on the extent to which, given the need to invest in productive capabilities, the company can afford to make cash distributions to shareholders. Motivating corporate resource-allocation decisions are the modes of remuneration that incentivize and reward the top executives of these companies. A sound analysis of the operation and performance of a modern economy requires an understanding of not only how much these executives are paid but also the ways in which the prevailing system of executive pay influences their decisions to allocate corporate resources.
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Podcasts
The Rise and Fall of the Black Blue-Collar Middle Class, part 2
Jul 2, 2021
Umass Lowell Economics professor William Lazonick, outlines the history of how government policy and economic conditions contributed to the rise and fall of a Black blue-collar middle class. Part 2 takes a closer look at the role of finance and stock buybacks and what can be done to reverse the trend towards growing inequality.
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Working Paper
Working PaperInvesting in Innovation: A Policy Framework for Attaining Sustainable Prosperity in the United States
Apr 2022
Business firms are not alone in making investments in the productive capabilities required to generate innovative goods and services. Household units and government agencies also make investments in productive capabilities upon which business firms rely for their own investment activities.
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Working Paper
Working PaperThe Pursuit of Shareholder Value: Cisco’s Transformation from Innovation to Financialization
Feb 2023
On the dereliction of key US-based business corporations to take the lead in making the investments in organizational learning required to generate cutting-edge communication-infrastructure products.
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Article
Top Economist: Instead of Basic Income, Let’s Keep People Working Productively During the Crisis
Mar 25, 2020
William Lazonick emphasizes that keeping workers productively employed is key to economic recovery from Covid-19 as well as a healthy economic future
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Site Pages
Resources for the Media
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Article
U.S. Corporations Don’t Need Tax Breaks on Foreign Profits
Dec 21, 2015
Many Americans have expressed outrage over Pfizer’s plan, through its merger with Allergan, to move its tax home from the United States to Ireland. Now, in a New York Times op-ed, Carl Icahn, the billionaire corporate raider turned hedge fund activist, has joined the chorus. He labels the Pfizer-Allergan deal a “travesty,” blaming the U.S.’s “uncompetitive international tax system.”
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Article
We Stopped Pfizer’s Tax Dodge, Now Let’s End the Buybacks
Apr 8, 2016
Industrial journalist Ken Jacobson and economist William Lazonick (both of the Academic-Industry Research Network), call for an end to stock market manipulation through buybacks.
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News
OSF and INET Complete 12 Year Collaboration on New Economic Thinking
Jan 5, 2022
The Institute for New Economic Thinking (INET) and the Open Society Foundations (OSF) announced that OSF has made a gift of $23.5 million to INET. The grant marks the completion of the organizations’ 12-year collaboration.
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Partnership
The AirNet
The Academic-Industry Research Network—theAIRnet—is a 501(c)(3) not-for-profit research organization devoted to the proposition that a sound understanding of the role of business in the economy requires collaboration between academic scholars and industry experts.
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Article
4 Burning Questions on the Global Vaccine Rollout
Dec 29, 2020
Warnings of “corruption and incompetence coming together,” as economists William Lazonick and Öner Tulum study the race to end the pandemic.
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Article
America Needs Intel Economically and Politically—But Is It Too Late?
Aug 12, 2024
With Pat Gelsinger at the helm, Intel’s fate will be decided by whether it can revive its innovation-driven legacy or remain a cautionary tale of financial mismanagement.
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Article
After Over Three Decades, Rebel Economist Breaks Through to Washington. Here’s How He Did It.
Jul 1, 2019
The idea that businesses are run to maximize profits for shareholders is just plain wrong, says William Lazonick
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Working Paper
Working paperEquality Denied: Tech and African Americans
Feb 2022
EEO-1 employment data document the vast over-representation of Asian Americans and vast under-representation of African Americans at tech companies in recent years. How did this happen?
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Podcasts
The Rise and Fall of the Black Blue-Collar Middle Class, part 1
Jul 1, 2021
Umass Lowell Economics professor William Lazonick, outlines the history of how government and economic conditions favored the rise of a Black blue-collar middle class from the 1960”s to the 1970’s, and how shifts in policy and in the economy caused its unmaking from the 1980’s onwards.
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Article
Congratulations to Economics Nobel Laureates Hart and Holmström
Oct 10, 2016
Economists honored for their work on contract theory, which has important implications for issues such as executive compensation that have been a focus of Institute research
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Article
How Shareholder Value Fixation Turns AI and Robotics into a Recipe for Failure
Sep 11, 2023
New technologies are not the problem. It’s a system distorted by a flawed ideology.
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Article
China’s Development Path: Indigenous Innovation and Global Competition
Aug 22, 2022
China’s successful technological development path stands in contrast to the corporate financialization model in the United States
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Article
Stock Buybacks Stand in the Way of Biden’s Infrastructure Plan
Apr 7, 2021
Hedge fund managers are pushing American firms to play Wall Street games instead of investing in technologies of the future. China doesn’t have that problem.
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Webinars and Events
Tomorrow’s Detroits & Detroit’s Tomorrows
ConferenceRace & Economics
Nov 11–12, 2016
Economics has a race problem.
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Article
Don't “Buyback” Fair Labor Standards
Feb 20, 2019
We need to ban stock buybacks, while building a movement for basic economic rights
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Article
How Greedy Corporations Turn the Black American Dream into a Nightmare
May 24, 2021
The plight of white blue-collar workers is well-known, but Blacks in that category were feeling the squeeze long before their white counterparts.
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Article
How Intel Financialized and Lost Leadership in Semiconductor Fabrication
Jul 7, 2021
Stock buybacks come at the cost of technological innovation
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Article
African Americans in Tech: What the EEO-1 Numbers Reveal
Feb 22, 2022
EEO-1 employment data document the vast over-representation of Asian Americans and vast under-representation of African Americans at tech companies in recent years. How did this happen?
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Article
“Worse Than Big Tobacco”: How Big Pharma Fuels the Opioid Epidemic
Oct 10, 2017
Once again, an out-of-control industry is threatening public health on a mammoth scale
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Article
What’s the Fate of Social Security in a Brutally Unequal America?
Feb 1, 2024
White House contenders ignore root causes threatening the program, potentially worsened by cuts. Is it due to reliance on wealthy donors?
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YSI Event
YSI Latin America Convening
YSI
Regional ConveningJul 19–21, 2018
Young Scholars based in Latin America are invited to convene in Buenos Aires. The event serves to strengthen the Latin American network of new economic thinkers pursuing a new economic paradigm. Attendees will be able to enjoy several partner events during the same week.
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Article
How Superstar Companies Like Apple Are Killing America’s High-Tech Future
Dec 8, 2014
Few would argue that America’s fortunes rise and fall on its ability to generate technological innovations — to put bold ideas to work and then bring them to market.
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Article
Why Wages Are Stagnating in Latin America
Oct 19, 2018
William Lazonick has shown how the doctrine of “shareholder value” has hurt wages in the United States. But in Latin America, where family corporations dominate, the story is more complicated.
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Article
Elites Have Made the American Dream a Nightmare for Black People. Who’s Next?
Jul 9, 2020
Researchers reveal the enemies to stability and prosperity that threaten us all.
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Article
Meet the "New Koch Brothers" – the Hedge Fund Activists Wrecking America’s Green New Deal
Mar 4, 2021
Wealthy predators are playing stock market games with companies needed to develop and produce clean technology
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Article
How Economists Turned Corporations into Predators
Oct 5, 2017
The Idea That Businesses Exist Solely to Enrich Shareholders Is Harmful Nonsense
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Article
The Rise of Hedge Fund Activism
Aug 3, 2018
How corporate raiders coopted “shareholder democracy” for their own ends