What the UAW and Everyone Else Need to Know About CEO Pay

What is GM CEO Mary Barra’s take-home pay? AIRnet researchers Matt Hopkins and William Lazonick explains it’s more than you are being told! “In striking General Motors (GM), Ford, and Stellantis, the United Auto Workers (UAW) has put the spotlight…

Losing Out in Critical Technologies: Cisco Systems and Financialization

by Marie Carpenter and William Lazonick Once the global leader in telecommunication systems and the Internet, over the past two decades the United States has fallen behind global competitors, and in particular China, in mobile- communication infrastructure—specifically 5G and Internet…

Sick with “Shareholder Value”: US Pharma’s Financialized Business Model During the Pandemic

by William Lazonick and Öner Tulum On August 16, 2022, Congress passed the Inflation Reduction Act, which, among other things, enables Medicare to negotiate the prices of certain high-cost prescription drugs, beginning in 2026.[1] Even though it is just one…

From Financialisation to Innovation in UK Big Pharma

AstraZeneca and GlaxoSmithKline by Öner Tulum, Antonio Andreoni and William Lazonick The tension between innovation and financialisation is central to the business corporation. Innovation entails a ‘retain-and-reinvest’ allocation regime that can form a foundation for stable and equitable economic growth….

Investing in Innovation: Confronting Predatory Value Extraction in the U.S. Corporation

ABSTRACT  “Sustainable prosperity” denotes an economy that generates stable and equitable growth for a large and growing middle class. From the 1940s into the 1970s, the United States appeared to be on a trajectory of sustainable prosperity, especially for white-male…

International workshop series on the German system of co-determination organized by WZB, theAIRnet, and IGZA

Together with the Berlin Social Science Center (Wissenschaftszentrum Berlin für Sozialforschung-WZB), the Academic-Industry Research Network (theAIRnet), and the Institute for the History and Future of Work (Institut für die Geschichte und Zukunft der Arbeit-IGZA) organized the German-American workshop series “The…

‘Shareholder value’ versus the public good: the case of Germany

“With uncertainty around the world about how and when the coronavirus outbreak will decelerate, whole business sectors have been affected by lockdowns and are facing ruin. In Germany, more than 750,000 companies have put over 12 million employees on reduced working…