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Lazonick: Shareholders are looting the business corporation

By Real Vision “Predatory value extraction is causing sagging productivity and growth problems at many US companies that are trying to compete globally, Dr. William Lazonick, co-founder and president of The Academic-Industry Research Network, told Real Vision’s The Interview. He said sustainable prosperity – stable employment coupled with equitable distribution of income – is not […]

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Why Stock Buybacks Are Dangerous for the Economy

By William Lazonick, Mustafa Erdem Sakinç and Matt Hopkins “Even as the United States continues to experience its longest economic expansion since World War II, concern is growing that soaring corporate debt will make the economy susceptible to a contraction that could get out of control. The root cause of this concern is the trillions of dollars that major […]

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Stock Buybacks Threaten Economic Growth

By Michelle Celarier “Soon after economist William Lazonick became a fellow at Harvard Business School in 1984, the world he had studied for decades began to radically change. Instead of plowing their profits back into their businesses, companies were being advised to do everything they could to boost their share price to return those profits […]

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Have stock buybacks gone too far?

By William Lazonick and segment guest (Jeremy Siegel) “Fueled by the lower corporate tax rate, share buybacks among S&P 500 companies shot to a fourth consecutive record in the last quarter of 2018, according to Standard & Poor’s. What’s more is that the lower tax rate enabled dozens of profitable Fortune 500 companies such as […]

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Sovereign wealth funds must choose a different path

By Christopher Mackin “Sovereign wealth funds, with a combined $8tn in assets, are in the news. China Investment Corporation recently teamed up with France’s largest bank to create a €1bn-plus fund to back European companies.”… [Click HERE to read the full article]

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