Top menu

Archive | OPINION

With working Americans’ survival at stake, the US is bailing out the richest

By Morris Pearl  and William Lazonick “Without significant oversight, Congress’s economic relief bill will leave millions of everyday Americans in financial peril Amid a humanitarian crisis compounded by mass layoffs and collapsing economic activity, the last course our legislators should be following is the one they appear to be on right now: bailing out shareholders and […]

Continue Reading

CEOs Gorged on Buybacks for Years. Now They Want Bailouts.

By William Lazonick “Congress is poised to impose restrictions on stock buybacks as a part of the multi-trillion-dollar recovery package that is being voted on this week. To understand why those limits are necessary, look no further than the airline industry, which is being singled out for rescue as air travel has collapsed during the pandemic.”…  [Click HERE to […]

Continue Reading

Toward an Economic Democracy

Christopher Mackin “The most fundamental tragedy of the coronavirus crisis is human. It is lives being lost. Somewhere close behind is the feeling of desperation shared by working people.”… [Click HERE to read the full article]

Continue Reading

4 Ways to Eradicate the Corporate Disease That is Worsening the Covid-19 Pandemic

By William Lazonick, Matt Hopkins, Ken Jacobson, Lenore Palladino, Mustafa Erdem Sakinç, and Öner Tulum “It’s time for business executives, employees, and taxpayers to come together to help get us out of the pandemic and create conditions for a sustainable and equitable future Here are the key ways to respond to the coronavirus crisis and prepare for the future.”… [Click HERE to read […]

Continue Reading

Business resiliency means banning stock buybacks

By Lenore Palladino “As millions face unemployment and dire financial prospects amid the coronavirus pandemic, hotels, airlines, and other large corporations are repeating the script of 2008: asking for massive public bailouts after years of extractive shareholder payments. Before the government buoys these companies with the public’s money, we must ensure that they are resilient […]

Continue Reading

Shareholders Benefit, Don’t Add Value To Companies (Interview with William Lazonick)

By Jan Miyazaki “William Lazonick, Professor of Economics at the University of Massachusetts, talks about his most recent book “Predatory Value Extraction: How the Looting of the Business Corporation Became the US Norm and How Sustainable Prosperity Can Be Restored”, which keys on how money is directed to shareholders and does nothing for business growth.”… [Click […]

Continue Reading

Is the Most Unproductive Firm the Foundation of the Most Efficient Economy?

By William Lazonick “Edith Penrose’s 1959 book, The Theory of the Growth of the Firm [TGF], fits the definition of a “classic”: a work that many cite but few have read. The view that I advance in this essay is that no one should be granted a Ph.D. in economics who has not read TGF and understood what this profound economist […]

Continue Reading
developed by bodhiWeb