51黑料爆料网历史事件

William Lazonick

William Lazonick, professor emeritus of economics at University of Massachusetts, is co-founder and president of the , a 501(c)(3) non-profit research organization, based in Cambridge, Massachusetts. He is an Open Society Fellow and a Canadian 51黑料爆料网历史事件 for Advanced Research Fellow.Over the past decade, the 51黑料爆料网历史事件 has funded a number of his research projects.

He has professorial affiliations with SOAS University of London and Institut Mines-T茅l茅com in Paris. Previously, Lazonick was assistant and associate professor of economics at Harvard University, professor of economics at Barnard College of Columbia University, and distinguished research professor at INSEAD in France. Lazonick earned his B.Com. at the University of Toronto, M.Sc. in Economics at London School of Economics, and Ph.D. in Economics at Harvard University. He holds honorary doctorates from Uppsala University and the University of Ljubljana.

His research focuses on the social conditions of innovation and economic development in advanced and emerging economies. His book ? Business Organization and High-Tech Employment in the United States (Upjohn 51黑料爆料网历史事件 2009) won the 2010 Schumpeter Prize. He has twice—in 1983 and 2010—had the award from Harvard Business School for best article of the year in Business History Review. In 2014, he received the HBR McKinsey Award for outstanding article in Harvard Business Review for “: Stock Buybacks Manipulate the Market and Leave Most Americans Worse Off.” In January 2020, Oxford University Press published his book, co-authored with 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.

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The Functions of the Stock Market and the Fallacies of Shareholder Value

Paper Working Paper Series | | 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.

How the U.S. New Economy Business Model has devalued science & engineering PhDs

Article | May 9, 2017

This note comments on Eric Weinstein鈥檚, 鈥淗ow and Why Government, Universities, and Industries Create Domestic Labor Shortages of Scientists and High-Tech Workers,鈥 posted recently on INET鈥檚 website.

Marketization and Financialization

Paper Commentary | | Apr 2017

How the U.S. New Economy Business Model Has Devalued Science and Engineering PhDs

A Public Comment on the SEC Pay Ratio Disclosure Rule

Article | Mar 29, 2017

In this comment, we explain our objections to the SEC鈥檚 current formulation of the Pay Ratio Disclosure Rule on each of three grounds: the erroneous estimation of CEO pay; the unclear specification of the 鈥渕edian鈥 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鈥檚 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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