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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

How the Disappearance of Unionized Jobs Obliterated an Emergent Black Middle Class

Article | Jun 15, 2020

Since the 1980s, the enemy of equal employment opportunity through upward socioeconomic mobility has been the pervasive and entrenched corporate-governance ideology and practice of maximizing shareholder value.

How the Disappearance of Unionized Jobs Obliterated an Emergent Black Middle Class

Paper Working Paper Series | | Jun 2020

In this introduction to our project, 鈥淔ifty Years After: Black Employment in the United States Under the Equal Employment Opportunity Commission,鈥 we outline the socioeconomic forces behind the promising rise and disastrous fall of an African American blue-collar middle class.

4 Ways to Eradicate the Corporate Disease That is Worsening the Covid-19 Pandemic

Article | Mar 23, 2020

It鈥檚 time for business executives, employees, and taxpayers to come together to help get us out of the pandemic and create conditions for a sustainable and equitable future

Is the Most Unproductive Firm the Foundation of the Most Efficient Economy?

Article | Jan 31, 2020

How Penrosian Learning Confronts the Neoclassical Fallacy

Featuring this expert

The Rise and Fall of the American Middle Class

Video | Apr 19, 2017

How rationalization, marketization, and globalization characterize the U.S. economy during the past 50 years, and how the behavior of companies and fate of American workers have changed during this process.

Tomorrow鈥檚 Detroits & Detroit鈥檚 Tomorrows

Event Conference Race & Economics | Nov 11–12, 2016

Economics has a race problem.

Lazonick links stock buybacks to America鈥檚 jobs challenge

Video | Nov 4, 2016

In an Al Jazeera documentary 鈥淚n Search of the Great American Job鈥, 51黑料网 scholar William Lazonick offers some arch insights into the relationship between financialization — particularly the 鈥渟hareholder value鈥 ideology in corporations, which drives the transfer of profits to shareholders through stock buybacks — and job creation and inequality.

Yellen Challenges Economists Amid Elusive Great Recovery

Article | Oct 24, 2016

Like the Great Depression and the stagflation of the 鈥70s, the anemic growth of the U.S. economy can鈥檛 be understood or remedied without changes in economists鈥 thinking