By Harvard Business Review press release “Harvard Business Review is pleased to announce that economist William Lazonick is the 2014 HBR McKinsey Award winner for his September article “Profits Without Prosperity.” In the article, Lazonick describes the damaging effects of massive…
AIR IMPACT
Recognition of AIR research, opinions, and people in the media and elsewhere
Stock buybacks under scrutiny: the McKinsey award winner asks tough questions,
By McKinsey press release “Corporate profits are at record levels, the stock market is booming, and American workers are at their most productive—but who is enjoying prosperity and why? That’s the provocative question William Lazonick considers in “Profits Without Prosperity,”…
Billionaire Hanauer hammers stock buybacks
By Ralph Nader “Self-made billionaire (meaning he didn’t inherit it), Nick Hanauer is not one to mince words, especially when they are backed by facts and principles of fairness. The Seattle entrepreneur, author and venture capitalist (he was the first…
Harvard Business Review throws up all over stock buybacks
By Tyler Durden “When even the Harvard Business Review throws up all over stock buybacks, you know it is only a matter of days before Obama signs an executive orders banning these for good (as he should have back in April…
Economist: GM’s $5bn buyback ‘bad for America’
By Justin King “Critics point out that GM\’s previous buybacks, if saved, would have prevented the company from going bankrupt during the 2008 industry crisis.”… [Click HERE to read the full article]
GM got played and it’s ‘bad for America’
By Matt Hardigree “This is The Morning Shift, our one-stop daily roundup of all the auto news that’s actually important — all in one place every weekday morning. Or, you could spend all day waiting for other sites to parse…
Harvard Business Review article questions GM buyback
By Greg Gardner “Taxpayers and workers brought GM out of bankruptcy, but it is the hedge funds that will reap the biggest rewards,” write William Lazonick and Matt Hopkins, who teach at the University of Massachusetts Lowell Center for Industrial…
Why big corporations would rather waste billions of dollars than give it to workers
By Bryce Covert “The amount of money large American companies spent on buying back their own stock to prop up their share prices just hit a record high. Companies in the Standard & Poor’s 500 index spent $104.3 billion on planned…
Economist proves: Reagan’s deregulation caused today’s income inequality
Anonymous “Finally, the root cause is revealed. Plenty of talk has been talked on the topic, by experts, data wonks, and politicians. But nobody was able to say why the 1% started f***ing the rest of us to an even greater extent than hitherto, from the 80’s through…
Economic Hegemony and the Federal Reserve
By Rob Urie “In his book Globalization and Its Discontents former World Bank economist Joseph Stiglitz details the ignominious history of IMF ‘structural adjustment’ programs inflicted around the globe in the 1990s. While the IMF has admitted that economic austerity is both theoretically flawed…
