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Those recurring jobless recoveries

By William Lazonick – The financial crisis of 2008 reinforced a growing recognition among academics and policy-makers that the US economy has become highly financialized, with negative impacts on economic performance. Government policies to restore well-paid and stable employment opportunities in the US economy require an analysis of what financialization is, where it operates, and […]

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The companies that build the Chinese auto dreams

By Yin Lin – Although it was expected that China would become the next major competitor in the world auto market after Japan and South Korea, that day seems to be coming much earlier than anticipated, particularly with the implementation of clean technology. The State of California, America’s leader in enforcing environmental regulation, has recently […]

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Council on jobs and competitiveness

By William Lazonick – On January 21, 2011 President Obama named Jeffrey Immelt, CEO of General Electric, to head the newly created Council on Jobs and Competitiveness. On the same  day, Mr. Immelt published an op-ed piece, “A blue-print for keeping America competitive“, in the Washington Post. I wrote the following letter to the editor, […]

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Retain and reinvest

By William Lazonick – The United States is mired in a “jobless recovery”, with unemployment at close to 10%, and little prospect of it getting much better anytime soon. As is to be expected, Republicans are blaming big government for creating this mess, while Democrats are calling for more government spending to clean it up. […]

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Insurance executives: A big part of our health care problem

By William Lazonick (originally published by The Huffington Post) - Among the most powerful and vociferous opponents of health care reform are the executives of publicly listed health insurance companies and their lobbyists. The prime concern of these executives is that, by ensuring that Americans will have the access to better, or even some, health care […]

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The buyback boondoggle

By William Lazonick (originally published by Bloomberg Businessweek) - As the unemployment rate hovers near 10%, the economic debate is focused on how the government should aid recovery. (More stimulus spending? Tax cuts?) But it’s business’ task to get the economy back on track—by investing in innovation and job creation. And if the recent past is […]

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High health care costs emanate from business, not government

By William Lazonick (originally published by The Huffington Post) - At one of the town hall meetings that preceded the passage of the Affordable Care Act (ACA), President Barack Obama read an exhortation from a woman enrolled in Medicare: “I don’t want government-run health care. I don’t want socialized medicine. And don’t touch my Medicare.’” This […]

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