What is GM CEO Mary Barra’s take-home pay? AIRnet researchers Matt Hopkins and William Lazonick explains it’s more than you are being told! “In striking General Motors (GM), Ford, and Stellantis, the United Auto Workers (UAW) has put the spotlight…
Tag: stock-based pay
Financialized Corporations in a National Innovation System: The U.S. Pharmaceutical Industry
By Öner Tulum & William Lazonick ◊ There are widespread claims that a productivity crisis afflicts the U.S. pharmaceutical industry despite the fact that the U.S. institutional environment provides unique advantages for drug R&D. We argue that the explanation for this productivity paradox is the “financialization” of the U.S. pharmaceutical industry. Driven by shareholder-value ideology, the U.S. pharmaceutical industry has adopted a highly financialized business model…