143 Results for “William Lazonick”
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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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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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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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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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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
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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Article
Chicago School Economists Got it Wrong. Strong Antitrust Policy Boosts the Economy.
Mar 29, 2021
History shows robust antitrust enforcement helps promote a prosperous, fair, and balanced economy. Antitrust expert Mark Glick explains how the U.S. went astray during the 1980s, and how to get back on track.
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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
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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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
Mass Producing Covid-19 Vaccine
Feb 9, 2021
Capacity, Scale, and Control
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Podcasts
How the Study of Meaning-Making Will Enrich Economic Analysis
Feb 4, 2021
Robert Akerlof, economics professor at the University of Warwick, discusses his research into issues of self-esteem and values and how such a focus can greatly improve efforts to make sense of economic activity.
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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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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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Article
"Build Back Better" Needs an Agenda for Upward Mobility
Jan 5, 2021
How the dream of a middle class existence collapsed, first for Blacks, then for more and more white American workers and what the Biden administration could do to retrieve the situation.