Harvard Business Review announces 56th annual HBR McKinsey Award winners

By Harvard Business Review press release

Harvard Business Review┬áis 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 stock buybacks, arguing that they undermine income equality, job stability, and growth, and mostly serve the interests of executives, whose compensation is often heavily based on stock.”…

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