By BBC News “A former Boeing engineer has told the BBC’s Panorama programme that work on the production line of the 737 Max plane was not adequately funded. The aircraft is currently grounded after two crashes which killed 346 people….
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House Democrats blast impact of soaring drug prices
By Megan Mineiro “House Democrats accused pharmaceutical companies Friday of getting away with murder through skyrocketing drug prices, rejecting Republican lawmakers’ concerns that increased regulation to bring down the cost of prescription drug prices could stifle innovative research.”… [Click HERE to read…
High CEO pay due to stock buybacks?
By Bruce Thompson “When corporations report their financial results, they subtract their expenses from their revenues to get their net income. Traditionally, net income has two uses. Part can be sent to the firm’s shareholders as a dividend. The remainder…
A roadmap for reshaping capitalism
By Steve Denning “In July 1–2, 2019, in Adam Smith’s home in Edinburgh Scotland, an international group of multidisciplinary thinkers and doers met in response to “a call to arms” to discuss “reshaping capitalism and the global order.” The conference was the…
“Rebel economist breaks through to Washington on how shareholder value theory rewards the undeserving
By Yves Smith “By Lynn Parramore, Senior Research Analyst at the Institute for New Economic Thinking. Originally published at the Institute for New Economic Thinking website Ever heard that a corporation’s sole duty is to maximize value for shareholders? In the…
The weird meritocracy of liberal capitalism
By Jonathan Culbreath “It is all too easy for anyone interested in social sciences or ethics to adopt an over-simplilfied and univocal idea of justice, and its concomitant rights, duties, merits, and deserts. As Aristotle notes in the Nicomachean Ethics, ideas…
After Over Three Decades, Rebel Economist Breaks Through to Washington. Here’s How He Did It.
By Lynn Parramore “The idea that businesses are run to maximize profits for shareholders is just plain wrong, says William Lazonick Ever heard that a corporation’s sole duty is to maximize value for shareholders? In the go-go ‘80s, business schools,…
The Economist Who Put Stock Buybacks in Washington’s Crosshairs
William Lazonick’s long-standing skepticism toward the shareholder-value model has become a central element of the economic platforms of several Democratic Presidential candidates.
The Economist Who Put Stock Buybacks in Washington’s Crosshairs
In 1984, an economics professor named William Lazonick joined the faculty at the Harvard Business School, just in time to witness a shift in economic thought. Lazonick, who is seventy-four, had grown up in Toronto and earned a Ph.D. in…
Market manipulation may have contributed to Boeing 737 Max 8 fiasco
By Sam Seder “Bill Lazonick, professor of economics at University of Massachusetts Lowell, joins Ring of Fire’s Sam Seder, to talk about how market manipulation allowed since the 1980s may have contributed to Boeing’s 737 Max 8 safety problems.”… [Click HERE to watch…
