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….

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…

Meet the “New Koch Brothers” – the Hedge Fund Activists Wrecking America’s Green New Deal

“…Economist Matt Hopkins, who studies business corporations, stresses that as a taxpayer, you are asked to support such companies not only in the form of direct subsidies, but also indirectly through government-supported research. Not to mention all sorts of tax…