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The International Schumpeter Society awarded the 2010 Schumpeter Prize to William Lazonick

The International Schumpeter Society awarded the 2010 Schumpeter Prize to William Lazonick for his book, Sustainable Prosperity in the New Economy? Business Organization and High-Tech Employment in the United States (Upjohn Institute, 2009).

Over the past three decades, the information and communication technology (ICT) industries have propelled the growth of the U.S.economy. In the process there has been a dramatic transformation in the dominant mode of business organization that characterizes ICT, as the “New Economy business model” (NEBM) has replaced the “Old Economy business model” (OEBM). And although NEBM has been central to the microelectronics revolution, it has also been a source of employment instability and inequity in the distribution of income.

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