{"title":"William Lazonick","description":null,"products":[{"product_id":"business-organization-and-the-myth-of-the-market-economy-book-william-lazonick-9780521447881","title":"Business Organization and the Myth of the Market Economy","description":"This book explains the transitions in twentieth-century industrial leadership from Britain to the United States and, most recently, to Japan, in terms of the changing business investment strategies and organizational structures in these nations. The author criticizes economists for failing to understand these historical changes. The book shows that this intellectual failure is not inherent in the discipline of economics; there are important traditions in economic thought that the mainstream of the economics profession has simply ignored.","brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49544692171025,"sku":"GOR004178065","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"US \/ WELL_READ \/ SBYB","offer_id":50319247180049,"sku":"CIN0521447887A","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52348354429201,"sku":"NLS9780521447881","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ GOOD \/ SBYB","offer_id":53192006238481,"sku":"CIN0521447887G","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0521447887.jpg?v=1751039958"},{"product_id":"iebm-handbook-of-economics-book-william-lazonick-9781861525451","title":"IEBM Handbook of Economics","description":null,"brand":"WoB","offers":[{"title":"GB \/ VERY_GOOD \/ INTERNAL","offer_id":49640491876625,"sku":"GOR012869930","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1861525451.jpg?v=1751448426"},{"product_id":"predatory-value-extraction-book-william-lazonick-9780198846772","title":"Predatory Value Extraction","description":"Predatory Value Extraction explains how an ideology of corporate resource allocation known as 'maximizing shareholder value' (MSV) that emerged in the 1980s came to dominate strategic thinking in business schools and corporate boardrooms in the United States. Undermining the social foundations of sustainable prosperity, it resulted in employment instability, income inequity, and slow productivity growth. In explaining what happened to sustainable prosperity, William Lazonick and Jang-Sup Shin focus on the growing imbalance between value creation and value extraction in the U.S. economy, and the corporate-governance institutions that determine this balance in the nation's major business corporations. The imbalance has become so extreme that predatory value extraction is now a central economic activity, to the point at which the U.S. economy as a whole can be aptly described as a value-extracting economy.  Balancing the contributions of economic actors to value creation with their power to extract value provides the foundation for stable and equitable economic growth. When certain economic actors are able to assert their power to extract far more value than they contribute to the value-creation process, an imbalance occurs which, when extreme, leads to dire economic, political, and social consequences. This book not only explores these consequences, but also sets out an agenda for restoring sustainable prosperity.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51000084594961,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51000087740689,"sku":"NIN9780198846772","price":0.0,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0198846770.jpg?v=1750973333"},{"product_id":"investing-in-innovation-book-william-lazonick-9781009410731","title":"Investing in Innovation","description":"Business corporations interact with household units and government agencies to make investments in productive capabilities required to generate innovative goods and services. When they work harmoniously, these three types of organizations constitute 'the investment triad'. The Biden administration's Build Back Better agenda to restore sustainable prosperity in the United States has focused on investment in productive capabilities by government agencies and household units. Largely absent from the Biden agenda have been policy initiatives to ensure that, given government and household investment in productive capabilities, the governance of major U.S. business corporations supports investment in innovation. This Element explains how corporate financialization, manifested by predatory value extraction in the name of 'maximizing shareholder value', undermines investment in innovation in the United States. It concludes by outlining a policy framework, beginning with a ban on stock buybacks, that confronts predatory value extraction and puts in place social institutions that support sustainable prosperity.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51012384850193,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51012386980113,"sku":"NIN9781009410731","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52120394432785,"sku":"NLS9781009410731","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/1009410733.jpg?v=1750851889"},{"product_id":"management-innovation-book-william-lazonick-9780199695683","title":"Management Innovation","description":"Alfred D. Chandler, Jr. was, by general consensus, the pre-eminent business historian of the twentieth century. Through a prodigious body of work, Chandler made the study of the evolution of business enterprise integral to the study of the evolution of economy and society. His work combined detailed historical investigations with grand sociological syntheses. As a result, Chandler's study of the modern business enterprise invited social scientists and business academics as well as historians to contribute to our understanding of a central institution of our time.  Chandler revealed how managerial activity was central to the functioning of successful industrial corporations, and hence to the performance of the economy as a whole. This book gathers together contributions from management scholars fundamentally influenced by the work of Chandler to discuss management innovation, the ways in which people who exercise strategic control over the allocation of resources put in place organizational structures that can enable an enterprise to prosper and grow. The volume offers a range of perspectives to examine the challenges that corporate management encounters.","brand":"WoB","offers":[{"title":"- \/ - \/ -","offer_id":51089319854353,"sku":"","price":0.0,"currency_code":"GBP","in_stock":true},{"title":"US \/ NEW \/ INGRAM","offer_id":51089321754897,"sku":"NIN9780199695683","price":0.0,"currency_code":"GBP","in_stock":false},{"title":"GB \/ NEW \/ INGRAM","offer_id":52472168907025,"sku":"NLS9780199695683","price":0.0,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0784\/4072\/6801\/files\/0199695687.jpg?v=1750738282"}],"url":"https:\/\/www.worldofbooks.com\/en-au\/collections\/author-books-by-william-lazonick.oembed","provider":"World of Books ","version":"1.0","type":"link"}