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…
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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…
Larry Fink, other Wall Street heavies, complain about short-termism. Can they turn the tide?
By Owen Davis, International Business Times, February 3, 2016 – But does focusing on “short-termism” allow executives to avoid discussing vital reforms that would change their practices – and likely cut their pay? [Click HERE to read the full article]
Blackrock’s Fink calls on CEOs to focus on long-term goals
By Sue Herera and Tyler Mathisen, Nightly Business Report, February 2, 2016 – William Lazonick, interviewed on TV’s Nightly Business News (segment at 19:34-23:02), outlines role of incentives in undermining executives’ concern for corporate strategy. [Click HERE to watch the…
What CEOs Do for a Living
By Harold Meyerson, The American Prospect, January 28, 2016 – As American CEOs look out for No.1, they give productive capability short shrift, sending the nation’s economy into a downward spiral. [Click HERE to access the paper via The American Prospect]
Pfizer’s buyback: Elixir for shareholders, jagged little pill for R&D
January 2, 2016 – Eric Reguly of the Globe and Mail, armed with theAIRnet’s research, charges that “North American-style capitalism obviously prefers buybacks” to innovation. [Click HERE to access the paper via The Globe and Mail]
How to end the stock buyback deluge
December 26, 2015 – Harold Meyerson uses his parting Washington Post column to decry stock buybacks, set their elimination as “a goal for the Obama administration’s final year.” [Click HERE to access the paper via The Washington Post]
A Wall Street-Main Street split
By Michael Kranish, Boston Globe, December 26, 2015 – A Wall Street winner, troubled by his industry’s contribution to economic inequality, forms Patriotic Millionaires to push for policy change. [Click HERE to access the paper via Boston Globe]
Innovative Enterprise or Sweatshop Economics? In Search of Foundations of Economic Analysis
In a recent Institute for New Economic Thinking working paper, William Lazonick explains the fallacy of “perfect competition” as the ideal of economic efficiency. [Click HERE to access the paper via Institute for New Economic Thinking]
“Profits Without Prosperity” is Among the Winners of 2015 Folio: Eddie Award
William Lazonick’s Harvard Business Review article, “Profits Without Prosperity” has won an “Eddie” in Folio’s annual competition for the category “Consumer–Series/Single Article-Banking/Business/Finance.”
