By William Lazonick, Matt Hopkins and Ken Jacobson “In August 2013, Carl Icahn, among the most prominent “activist shareholders” in the United States, announced that he had purchased 27,125,441 shares of the publicly traded stock of Apple Inc.* By the…
AIR ANALYSIS
Comments on economic issues and developments published by AIR researchers and affiliates
Could fiscal policy changes revive US economic growth? Some contributions towards answering that question
By Institute Staff “As analysts across the industrialized world contemplate the political consequences of anemic long-term growth patterns, media and policy conversations are showing renewed interest in the question of whether the fiscal austerity policies shaped by orthodox economics are…
theAIRnet shows UN panel buybacks’ damage to innovation in pharma
Drug companies’ perennial claim that high prices are key to funding innovation is exposed as a smokescreen for disproportionate payouts to shareholders and executives in “Life Sciences? How ‘Maximizing Shareholder Value’ Increases Drug Prices, Restricts Access, and Stifles Innovation,” the…
To Boost Investment, End S.E.C. Rule That Spurs Stock Buybacks
By William Lazonick “U.S. corporate profits abound, but for most Americans, prosperity can’t be found. Open-market repurchases — stock buybacks — are central to the problem. From 2004 to 2013, 454 companies in the S&P 500 Index expended 51 percent of…
How superstar companies like Apple are killing America’s high-tech future (interview of William Lazonick)
By Lynn Parramore “Few would argue that America’s fortunes rise and fall on its ability to put ideas to work and then bring them to market. William Lazonick, professor of economics at the University of Massachusetts Lowell, and Matt Hopkins,…
What Apple Should Do with Its Massive Piles of Money
By William Lazonick “An Open Letter to Tim Cook, CEO of Apple Dear Mr. Cook, In a recent article posted on this website, I criticized Carl Icahn’s call for your company to intensify its stock buybacks. In this letter, I’d like to explain more…
Stock buybacks enriching executives, killing jobs (interview with Lynn Parramore)
By R. J. Eskow [Click HERE to watch the interview]
Profits Without Prosperity (interview of William Lazonick)
Interviewed by Sam Seder [Click HERE to listen the interview]
The dirty little secret of how CEOs enrich themselves at your expense (Interview of William Lazonick)
By Lynn Parramore “Everyone from Warren Buffett to Robert Reich is talking about a favorite Wall Street trick called stock buybacks. But what are they and what do they mean to you? William Lazonick is a leading expert on the history of the American business…
How parasite corporations like Pfizer are chucking U.S. citizenship to escape from taxes
By Lynn Stuart Parramore “Let’s say you’re a giant American corporation like Pfizer, founded in Brooklyn way back in 1849. The fact that you exist and make a profit is largely due to the generous support of U.S. taxpayers. It’s…