Ա

William Lazonick

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 Ա for Advanced Research Fellow.Over the past decade, the Ա has funded a number of his research projects.

He has professorial affiliations with SOAS University of London and Institut Mines-Télécom 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 Ա 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

China’s Development Path: Indigenous Innovation and Global Competition

Article | Aug 22, 2022

China’s successful technological development path stands in contrast to the corporate financialization model in the United States

China’s Development Path: Government, Business, and Globalization in an Innovating Economy

Paper Working Paper Series | | Aug 2022

China’s successful technological development path stands in contrast to the corporate financialization model in the United States

Letter to SEC: How Stock Buybacks Undermine Investment in Innovation for the Sake of Stock-Price Manipulation

Article | Apr 1, 2022

A comment on the Securities and Exchange Commission’s proposed rule “Share Repurchase Disclosure Modernization”

Investing in Innovation: A Policy Framework for Attaining Sustainable Prosperity in the United States

Paper Working Paper | | Apr 2022

Business firms are not alone in making investments in the productive capabilities required to generate innovative goods and services. Household units and government agencies also make investments in productive capabilities upon which business firms rely for their own investment activities.

Featuring this expert

Top Economist: Instead of Basic Income, Let’s Keep People Working Productively During the Crisis

Article | Mar 25, 2020

William Lazonick emphasizes that keeping workers productively employed is key to economic recovery from Covid-19 as well as a healthy economic future

Banning Buybacks

Video | Dec 4, 2019

Stock buybacks are giveaways for greedy investors at the expense of everyone else.

The Hidden Costs of Healthcare

Video | Nov 20, 2019

INET experts discuss how financialization has driven up costs of healthcare—and how we can stop it.

Hidden Costs Of Healthcare

Event Conference | Nov 15, 2019

Increased financialization is driving healthcare costs and must be addressed in our nation’s public policy.