#william lazonick

[morphiccompendium]

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

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.

[disillusioned41]

TheRealNews Published on Dec 6, 2018

Stock Buybacks: Free-Market Ideology's License to Loot

William Lazonick, Professor Emeritus, U Mass Lowell, speaks at the forum, “Destroying the Myths of Market Fundamentalism,” held in Washington DC, on October 19, 2018 

[sustainableyadayadayada]

William Lazonick vs. Wally

William Lazonick vs. Wally

Still thinking about my William Lazonick post from yesterday. One of his arguments is that it is not just stockholders that deserve a part of corporate returns, because they are not the only ones taking risk. As he explains in his working paper, taxpayers and employees also take risk:

Then I show how and why MSV [maximizing shareholder value] is a theory of value extraction that, when applied to…

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[sustainableyadayadayada]

William Lazonick

Recently I did a post or two on the gospel of shareholder value, where I argued that ethical managers need to consider the implications of their decisions on a variety of stakeholders, certainly including employees and customers, but also the larger society and natural environment. William Lazonick, a professor at the University of Massachusetts, argues that the ideology of maximizing shareholder…

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[nc4l]

Today, corporate executives ask for more special treatment and freer rein in calling the shots in our economy, and they threaten to pack their bags if we don’t agree. Some politicians and policy makers respond to this blackmail by saying that we have to create a “friendly business climate” to convince them to stay. But what makes a "friendly business climate" -- low wages, minimal taxes and so on -- creates a very hostile climate for the 99 percent, which is ultimately bad for everyone -- business included.

Lynn Parramore

[nc4l]

Corporate executives have lost the sense that they owe anything to the public. They have forgotten that the 99 percent, as taxpayers, have made huge investments in them. They fight to lower taxes as if all the money “belongs” to the companies. They fight regulations as if the public doesn’t have the right to interfere in their business. All nonsense.

Lynn Parramore