By Zach Carter and Daniel Marans “For months now, House Democratic Party leaders have been feuding behind closed doors with members of the Congressional Progressive Caucus about how to lower prescription drug prices. But as details of negotiations between House…
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Let’s go back to boring banking
By Rita McGrath “After the Great Depression and through the 1980s, the financial sector was regulated to serve the rest of the economy. Today, it serves mostly itself. It’s time that changed. When even Larry Fink is talking about too much short-termism…
Don’t be surprised if Boeing’s escalating problems crash the stock market
By Charles Mudede “This is how it’s going down. Late last week, Seattle Times reported that a “preliminary crash report” confirmed that the “Ethiopian 737 MAX pilots lost control” of the plane “despite following Boeing’s instructions.” This is extremely bad news for…
Financialized Corporations in a National Innovation System: The U.S. Pharmaceutical Industry
By Öner Tulum & William Lazonick ◊ There are widespread claims that a productivity crisis afflicts the U.S. pharmaceutical industry despite the fact that the U.S. institutional environment provides unique advantages for drug R&D. We argue that the explanation for this productivity paradox is the “financialization” of the U.S. pharmaceutical industry. Driven by shareholder-value ideology, the U.S. pharmaceutical industry has adopted a highly financialized business model…
U.S. Sen. Baldwin: Reintroduces legislation to rein in stock buybacks and give workers a voice on corporate boards
By Sen. Tammy Baldwin, press release “Today, U.S. Senator Tammy Baldwin reintroduced legislation to rein in corporate stock buybacks and empower workers to have a say in how their company’s profits are spent. The Reward Work Act would ban open-market stock buybacks…
Why did Boeing put so much technology in the 737 MAX? To make money
By Teresa Ghilarducci “President Trump implied that complicated technology might have led to the Boeing 737 MAX disaster (a point since vigorously attacked), tweeting: “Airplanes are becoming far too complex to fly. Pilots are no longer needed ….and the complexity creates danger. All of this for…
How Stock Buybacks Undermine Sustainable Prosperity
The debate over buybacks is a debate over how to create more broadly shared prosperity. Here’s why their defenders’ arguments are flat-out wrong.
How High Drug Prices Inflate C.E.O.s’ Pay
Drug company executives faced tough questions from Congress on Tuesday as they attempted to explain why, thanks to high drug prices, per capita spending on pharmaceuticals in the United States is double the average of other advanced countries. For decades, American drug makers have justified these high…
How High Drug Prices Inflate C.E.O.s’ Pay
Pharmaceutical companies say their profits fund research and innovation in new medicines, but they are spending billions to enrich shareholders and executives.
What is the purpose of a corporation? (with William Lazonick and Lenore Palladino)
By Nick Hanauer “Interview with William Lazonick and Lenore Palladino: explain why ‘shareholder-value maximization us the world’s dumbest idea.”… [Click HERE to listen the interview]
