The Fragility of the US Economy: The Financialized Corporation and the Disappearing Middle Class
I will draw upon this paper for my presentation on Financial Institutions for Innovation and Development at the International Conference on Financialization, Financial Systems and Economic Development, Renmin University of China, Beijing, November 8 and 9,2010. A version of this paper will appear in a book from a project on National adjustments to a changing global economy, led by Dan Breznitz and John Zysman, funded by the Alfred P. Sloan Foundation. This paper builds on research in William Lazonick, Sustainable Prosperity in the New Economy? Business Organization and High-Tech Employment in the United States, Upjohn Institute for Employment Research, 2009; The New Economy Business Model and the Crisis of US Capitalism, Capitalism and Society. 4, 2, 2009; and The Explosion of Executive Pay and the Erosion of American Prosperity, Entreprises et Histoire. 57, 2010. The most recent research contained in this paper was funded by FINNOV project through Theme 8 of the Seventh Framework Programme of the European Commission (Socio-Economic Sciences and Humanities), under the topic The role of finance for growth, employment and competitiveness in Europe (SSH-20071.2-03) as well as by the Ford Foundation project on Financial institutions for innovation and development. I am grateful to Ebru Bekaslan, Yin Li, and Mustafa Erdem Sakinc for research assistance.
William Lazonick
University of Massachusetts and University of Bordeaux
国际会议
北京
英文
232-268
2010-11-01（万方平台首次上网日期，不代表论文的发表时间）