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William Lazonick, professor emeritus of economics at University of Massachusetts, is co-founder and president of the , a 501(c)(3) non-profit research organization, based in Cambridge, Massachusetts. He is an Open Society Fellow and a Canadian 51黑料网 for Advanced Research Fellow.Over the past decade, the 51黑料网 has funded a number of his research projects.

He has professorial affiliations with SOAS University of London and Institut Mines-T茅l茅com in Paris. Previously, Lazonick was assistant and associate professor of economics at Harvard University, professor of economics at Barnard College of Columbia University, and distinguished research professor at INSEAD in France. Lazonick earned his B.Com. at the University of Toronto, M.Sc. in Economics at London School of Economics, and Ph.D. in Economics at Harvard University. He holds honorary doctorates from Uppsala University and the University of Ljubljana.

His research focuses on the social conditions of innovation and economic development in advanced and emerging economies. His book ? Business Organization and High-Tech Employment in the United States (Upjohn 51黑料网 2009) won the 2010 Schumpeter Prize. He has twice—in 1983 and 2010—had the award from Harvard Business School for best article of the year in Business History Review. In 2014, he received the HBR McKinsey Award for outstanding article in Harvard Business Review for “: Stock Buybacks Manipulate the Market and Leave Most Americans Worse Off.” In January 2020, Oxford University Press published his book, co-authored with Jang-Sup Shin, Predatory Value Extraction: How the Looting of the Business Corporation Became the U.S. Norm and How Sustainable Prosperity Can Be Restored.

By this expert

Elon Musk鈥檚 latest power grab: Will Tesla鈥檚 CEO become the world鈥檚 first trillion-dollar employee?

Article | Nov 7, 2025

Elon Musk secured shareholder approval for a new stock-based package designed to double his voting power at Tesla, potentially making him the first trillion-dollar employee. As this plan cements Musk鈥檚 control it ties vesting to audacious market-cap and production targets and diverts focus from progressive value creation. Musk鈥檚 governance, layoffs, and politicization could imperil Tesla鈥檚 EV leadership and ambitions in AI and robotics.

Setting Pharmaceutical Drug Prices: What the Medicare Negotiators Need to Know 51黑料网 Innovation and Financialization

Paper Working Paper | | Sep 2024

Medicare negotiators need to have a deep understanding - both theoretical and empirical - of the learning processes involved in developing a drug to negotiate a price that is fair.

What Is a 鈥淔air鈥 Drug Price?

Article | Sep 22, 2024

Medicare Needs a Perspective on 鈥淐ollective and Cumulative Learning鈥 in Inflation Reduction Act Negotiations

Musk and Tesla: Corporate Compensation, Financialization, and the Problem of Strategic Control

Article | Sep 13, 2024

From the perspective of innovative enterprise, we ask how Musk might abuse his power of strategic control—and what that would mean for corporate governance reform.

Featuring this expert

Economists Warn: Trump鈥檚 Intel Move Looks Like Performance, Not Policy

Article | Aug 26, 2025

Two economists who have studied Intel warn that Trump鈥檚 move to take a stake in the company amounts to flashy optics, incoherent strategy, and a creeping politicization of economic policy.

The Fall of Intel

Video | Aug 20, 2025

How America鈥檚 chip leader lost its edge.

Elon Musk and Tesla Shape America鈥檚 Future. But Problems Run Deeper Than Tweets.

Article | Sep 19, 2024

The financialization of U.S. firms making critical products endangers both American global leadership and, in Tesla鈥檚 case, climate change progress.

How Shareholder Value Fixation Turns AI and Robotics into a Recipe for Failure

Article | Sep 11, 2023

New technologies are not the problem. It鈥檚 a system distorted by a flawed ideology.