William Lazonick
Biographic Data
| ID | 280894 |
|---|---|
| NAME | William Lazonick |
| GIVEN NAMES | William |
| FAMILY NAME | Lazonick |
| SIGNATURE | LAZONICK W |
| AFFILIATIONS | Harvard University Press |
| ORCID | 0000-0003-1289-258X |
| VERIFIED | Yes |
| TOTAL WORKS | 36 |
| TOTAL CITATIONS | 708 |
| AUTHOR COUNT | 36 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1978 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 10 |
Factors, forms, modalities, limits and results of technology transfers to, between and from the emerging countries of the far east, south and south east asia
Cet article aborde la question de la présence des constructeurs automobiles chinois sur le marché russe. Sont analysés le positionnement et les difficultés que rencontrent les constructeurs chinois lors de leur entrée sur le marché russe. L’auteur examine le rôle des sanctions occidentales vis-à-vis de l’industrie automobile russe, notamment la manière dont les sanctions influencent la position des constructeurs chinois, sachant qu’officiellement…
From technology transfer to indigenous innovation in China
Factors, forms, modalities, limits and results of technology transfers to, between and from the emerging countries of the Far East, South and South East Asia
From technology transfer to indigenous innovation in China
En utilisant la théorie de l’entreprise innovante, nous analysons les principaux déterminants de la trajectoire de développement de la Chine depuis les réformes économiques de 1978. Tout d’abord, nous nous centrons sur la manière dont les investissements du gouvernement dans les capacités humaines et l’infrastructure physique se sont combinés avec l’apprentissage technologique à l’étranger pour fournir un soutien fondamental à l’émergence d’entre…
The New Normal is “Maximizing Shareholder Value”: Predatory Value Extraction, Slowing Productivity, and the Vanishing American Middle Class
In the United States, concentration of income and wealth among the very richest households have become extreme, while middle-class employment opportunities have disappeared. Building since the late 1970s, the instability and inequity in the economic system is now undermining productivity growth. The important contribution of Servaas Storm, “The New Normal: Demand, Secular Stagnation, and the Vanishing Middle Class,” demonstrates the integral rela…
When Managerial Capitalism Embraced Shareholder-Value Ideology: Comments on Duménil and Lévy
Gérard Duménil and Dominique Lévy state that, in analyzing the forces underlying the Piketty et al. data on U.S. income distribution, their paper will shed “new light ... on the historical transformation of U.S. capitalism and the most recent trends in neoliberalism, the new phase into which capitalism entered in the 1970s or 1980s.” Based on my own research, however, the Duménil and Lévy analysis suffers from a deficient understanding of (a) whe…
Innovative Enterprise and the Theory of the Firm
The explosion of executive pay and the erosion of american prosperity
Dans les années 2000, les États-Unis n’ont pu assurer de croissance économique ni stable ni équitable à leur propre population. Une des premières causes de l’inégalité et de l’instabilité du système économique américain tient au mode de rémunération des dirigeants des plus grandes sociétés industrielles et financières fondé sur le cours de l’action. Dans la manière dont ils allouent les ressources de leur entreprise, les dirigeants ont en effet u…
Innovative Business Models and Varieties of Capitalism: Financialization of the U.S. Corporation
How does economic organization affect economic performance? This analysis of the historical transformation of the U.S. economy from the business model of the “old economy” to that of the “new economy” demonstrates that the Japanese challenge of the 1980s was an important catalyst for the shift. Anchored by the “Chandlerian” corporation, the old model delivered economic growth that was much more equitable and stable than the new one. Furthermore, …
The Innovative Firm
The types of strategy, finance, and organization that support innovation process change over time can vary markedly across industrial activities and institutional environments. The innovative firm must, therefore, be analyzed in a comparative–historical perspective. This article presents and illustrates a framework for analyzing the “social conditions of innovative enterprise” in the comparative and historical experiences of the advanced economie…
The New Economy Business Model and the Crisis of U.S. Capitalism
Driven by industrial innovation, in the last half of the 20th century the population of the United States attained, on average, a very high standard of living. Yet, in the first decade of the 21st century, large numbers of Americans are economically insecure. In this paper, I summarize the findings of my research into the ways in which over the past three decades the transformation of the dominant business model that prevails in the information a…
Sustainable Prosperity in the New Economy: Business Organization and High-Tech Employment in the United States
Lazonick explores the origins of the new era of employment insecurity and income inequality, and considers what governments, businesses, and individuals can do about it. He also asks whether the United States can refashion its high-tech business model to generate stable and equitable economic growth
Comment on "Technological Revolutions and the Evolution of Industrial Structures" (by Giovanni Dosi, Alfonso Gambardella, Marco Grazzi, and Luigi Orsenigo)
This paper is a comment on Technological Revolutions and the Evolution of Industrial Structures: Assessing the Impact of New Technologies Upon the Size and Boundaries of Firms by Giovanni Dosi, Alfonso Gambardella, Marco Grazzi, and Luigi Orsenigo which can be found at: http://ssrn.com/abstract=2209120.
Approaches to Sustainable Development: The Public University in the Regional Economy
How can cities and regions foster sustainable development? What role can a university play in this process? These are the central questions addressed in this innovative collection of essays, which brings together scholars in such diverse fields as history, political economy, community studies, industrial theory, economic geography, environmental studies, ergonomics and work design, race and gender studies, manufacturing engineering, and public he…
Innovative Enterprise and Historical Transformation
The social conditions that affect innovation change over time and vary across productive activities. Hence theoretical analysis of the innovative enterprise must be integrated with historical study through the use of what I call a historical-transformation methodology —a methodology that stands in sharp contrast to, but can nonetheless be complemented by, the constrained-optimization methodology favored by conventional economists. In surveying so…
Maximizing shareholder value: A New Ideology for Corporate Governance
The decade-long boom in the US stock market and the more recent boom in the US economy have fostered widespread belief in the economic benefits of the maximization of shareholder value as a principle of corporate governance. In this paper, we provide an historical analysis of the rise of shareholder value as a principle of corporate governance in the United States, tracing the transformation of US corporate strategy from an orientation towards re…
The Japanese economy and corporate reform: What path to sustainable prosperity
The collapse of Japan's bubble economy in 1990 and the persistence of recessionary conditions in the 1990s have raised doubts about the viability of the "Japanese model, " particularly in the West but increasingly in Japan as well. This paper argues that Japan's economic problems--unemployment, unstable banks, underconsumption and underfunded pensions--are largely the direct results of the nation's rapid and successful economic development in the…
Business Organization and the Myth of the Market Economy
Business Organization and the Myth of the Market Economy
Business Organization and the Myth of the Market Economy
Journal Article Business Organization and the Myth of the Market Economy Get access Business Organization and the Myth of the Market Economy. By William Lazonick. (Cambridge and New York: Cambridge University Press, 1992. Pp. xiv + 372. £24.95 hardback, US $39.95 hardback. ISBN 0 521 39419 8.) Brian J. Loasby Brian J. Loasby University of Stirling Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volum…
Business Organization and the Myth of the Market Economy
Organization and Technology in Capitalist Development
For more than 20 years, William Lazonick has been one of the world's leading analysts of the dynamics of industrial development and change in international economic leadership. This impressive volume presents a coherent selection of Professor Lazonick's most important work on industrial development in Britain and the United States. The first part of the book contains articles on the decline of the British economy, including a recent summary of th…
Social Relations and Social Contexts
Competitive Advantage on the Shop Floor
Competitive Advantage on the Shop Floor
Maximizing shareholder value: A New Ideology for Corporate Governance
The decade-long boom in the US stock market and the more recent boom in the US economy have fostered widespread belief in the economic benefits of the maximization of shareholder value as a principle of corporate governance. In this paper, we provide an historical analysis of the rise of shareholder value as a principle of corporate governance in the United States, tracing the transformation of US corporate strategy from an orientation towards re…
Innovative Business Models and Varieties of Capitalism: Financialization of the U.S. Corporation
How does economic organization affect economic performance? This analysis of the historical transformation of the U.S. economy from the business model of the “old economy” to that of the “new economy” demonstrates that the Japanese challenge of the 1980s was an important catalyst for the shift. Anchored by the “Chandlerian” corporation, the old model delivered economic growth that was much more equitable and stable than the new one. Furthermore, …
Industrial Organization and Technological Change: The Decline of the British Cotton Industry
In this important study Professor Lazonick provides an astute reappraisal of why Britain's once dominant economy has failed to meet the challenges of international competition in the twentieth century. The vehicle for his discussion is cotton manufacture, the industry which, through the technological and commercial innovations of the late eighteenth and early nineteenth centuries, made Britain the leading industrial power. Among Dr. Lazonick's qu…
The Decline of the British economy
The Decline of the British Economy: An Institutional Perspective
This paper attributes the relative decline of the British economy in the twentieth century to rigidities in its economic and social institutions that had developed during the nineteenth-century era of relatively atomistic competition. Inherited and persistent constraints impeded British firms from acquiring the market control, authority in labor relations, or managerial hierarchy necessary to avail themselves fully of modern mass production metho…
Sustainable Prosperity in the New Economy: Business Organization and High-Tech Employment in the United States
Lazonick explores the origins of the new era of employment insecurity and income inequality, and considers what governments, businesses, and individuals can do about it. He also asks whether the United States can refashion its high-tech business model to generate stable and equitable economic growth
Production Relations, Labor Productivity, and Choice of Technique: British and U.S. Cotton Spinning
The role of capital-labor relations in the transformation of inputs into output is central to the Marxian theory of capitalist development but is neglected by neoclassical theory. By comparing the development of cotton spinning in Britain and the U.S. in the last half of the nineteenth century, this paper analyzes the ways in which capital-labor relations affected the level and structure of wages, labor productivity, and choice of technique. This…
The British Cotton Industry and International Competitive Advantage: The State of the Debates
(1990). The British Cotton Industry and International Competitive Advantage: The State of the Debates. Business History: Vol. 32, No. 4, pp. 9-65
Competition, Specialization, and Industrial Decline
The technological backwardness of the British cotton industry in the first six decades of this century was due primarily to the structure of industrial organization, characterized by intense competition and specialization, that had developed in the nineteenth century when the industry had no serious international competitors. But with the rise of corporate economies, particularly in Japan and the United States, this structure of industrial organi…
The “horndal effect” in early U.S. manufacturing
The New Economy Business Model and the Crisis of U.S. Capitalism
Driven by industrial innovation, in the last half of the 20th century the population of the United States attained, on average, a very high standard of living. Yet, in the first decade of the 21st century, large numbers of Americans are economically insecure. In this paper, I summarize the findings of my research into the ways in which over the past three decades the transformation of the dominant business model that prevails in the information a…
The New Normal is “Maximizing Shareholder Value”: Predatory Value Extraction, Slowing Productivity, and the Vanishing American Middle Class
In the United States, concentration of income and wealth among the very richest households have become extreme, while middle-class employment opportunities have disappeared. Building since the late 1970s, the instability and inequity in the economic system is now undermining productivity growth. The important contribution of Servaas Storm, “The New Normal: Demand, Secular Stagnation, and the Vanishing Middle Class,” demonstrates the integral rela…
The explosion of executive pay and the erosion of american prosperity
Dans les années 2000, les États-Unis n’ont pu assurer de croissance économique ni stable ni équitable à leur propre population. Une des premières causes de l’inégalité et de l’instabilité du système économique américain tient au mode de rémunération des dirigeants des plus grandes sociétés industrielles et financières fondé sur le cours de l’action. Dans la manière dont ils allouent les ressources de leur entreprise, les dirigeants ont en effet u…
The Breaking of the American Working Class
Stubborn mules: Some comments
Innovative Enterprise and Historical Transformation
The social conditions that affect innovation change over time and vary across productive activities. Hence theoretical analysis of the innovative enterprise must be integrated with historical study through the use of what I call a historical-transformation methodology —a methodology that stands in sharp contrast to, but can nonetheless be complemented by, the constrained-optimization methodology favored by conventional economists. In surveying so…
Business Organization and the Myth of the Market Economy
Journal Article Business Organization and the Myth of the Market Economy Get access Business Organization and the Myth of the Market Economy. By William Lazonick. (Cambridge and New York: Cambridge University Press, 1992. Pp. xiv + 372. £24.95 hardback, US $39.95 hardback. ISBN 0 521 39419 8.) Brian J. Loasby Brian J. Loasby University of Stirling Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volum…
When Managerial Capitalism Embraced Shareholder-Value Ideology: Comments on Duménil and Lévy
Gérard Duménil and Dominique Lévy state that, in analyzing the forces underlying the Piketty et al. data on U.S. income distribution, their paper will shed “new light ... on the historical transformation of U.S. capitalism and the most recent trends in neoliberalism, the new phase into which capitalism entered in the 1970s or 1980s.” Based on my own research, however, the Duménil and Lévy analysis suffers from a deficient understanding of (a) whe…
The Subjection of Labour to Capital: The Rise of the Capitalist System
In this paper I present an analytical study of the historical development of the family, mass schooling, and the labor movement in 19th century England. It is emphasized that what occurred in 19th century England was not just the emergence of the first industrial capitalist economy but also the first industrial capitalist system. By the 1870s in England, most of the characteristic institutions of the advanced capitalist systems of the 20th centur…
World Accumulation, 1492-1789
Production Relations, Labor Productivity, and Choice of Technique: British and U.S. Cotton Spinning
The role of capital-labor relations in the transformation of inputs into output is central to the Marxian theory of capitalist development but is neglected by neoclassical theory. By comparing the development of cotton spinning in Britain and the U.S. in the last half of the nineteenth century, this paper analyzes the ways in which capital-labor relations affected the level and structure of wages, labor productivity, and choice of technique. This…
Competition, Specialization, and Industrial Decline
The technological backwardness of the British cotton industry in the first six decades of this century was due primarily to the structure of industrial organization, characterized by intense competition and specialization, that had developed in the nineteenth century when the industry had no serious international competitors. But with the rise of corporate economies, particularly in Japan and the United States, this structure of industrial organi…
Industrial Organization and Technological Change: The Decline of the British Cotton Industry
In this important study Professor Lazonick provides an astute reappraisal of why Britain's once dominant economy has failed to meet the challenges of international competition in the twentieth century. The vehicle for his discussion is cotton manufacture, the industry which, through the technological and commercial innovations of the late eighteenth and early nineteenth centuries, made Britain the leading industrial power. Among Dr. Lazonick's qu…
The Decline of the British Economy: An Institutional Perspective
This paper attributes the relative decline of the British economy in the twentieth century to rigidities in its economic and social institutions that had developed during the nineteenth-century era of relatively atomistic competition. Inherited and persistent constraints impeded British firms from acquiring the market control, authority in labor relations, or managerial hierarchy necessary to avail themselves fully of modern mass production metho…
The “horndal effect” in early U.S. manufacturing
The Decline of the British economy
Stubborn mules: Some comments
The Breaking of the American Working Class
The British Cotton Industry and International Competitive Advantage: The State of the Debates
(1990). The British Cotton Industry and International Competitive Advantage: The State of the Debates. Business History: Vol. 32, No. 4, pp. 9-65
Organization and Technology in Capitalist Development
For more than 20 years, William Lazonick has been one of the world's leading analysts of the dynamics of industrial development and change in international economic leadership. This impressive volume presents a coherent selection of Professor Lazonick's most important work on industrial development in Britain and the United States. The first part of the book contains articles on the decline of the British economy, including a recent summary of th…
Social Relations and Social Contexts
Competitive Advantage on the Shop Floor
Competitive Advantage on the Shop Floor
Business Organization and the Myth of the Market Economy
Business Organization and the Myth of the Market Economy
Journal Article Business Organization and the Myth of the Market Economy Get access Business Organization and the Myth of the Market Economy. By William Lazonick. (Cambridge and New York: Cambridge University Press, 1992. Pp. xiv + 372. £24.95 hardback, US $39.95 hardback. ISBN 0 521 39419 8.) Brian J. Loasby Brian J. Loasby University of Stirling Search for other works by this author on: Oxford Academic Google Scholar The Economic Journal, Volum…
Business Organization and the Myth of the Market Economy
Business Organization and the Myth of the Market Economy
The Japanese economy and corporate reform: What path to sustainable prosperity
The collapse of Japan's bubble economy in 1990 and the persistence of recessionary conditions in the 1990s have raised doubts about the viability of the "Japanese model, " particularly in the West but increasingly in Japan as well. This paper argues that Japan's economic problems--unemployment, unstable banks, underconsumption and underfunded pensions--are largely the direct results of the nation's rapid and successful economic development in the…
Maximizing shareholder value: A New Ideology for Corporate Governance
The decade-long boom in the US stock market and the more recent boom in the US economy have fostered widespread belief in the economic benefits of the maximization of shareholder value as a principle of corporate governance. In this paper, we provide an historical analysis of the rise of shareholder value as a principle of corporate governance in the United States, tracing the transformation of US corporate strategy from an orientation towards re…
Innovative Enterprise and Historical Transformation
The social conditions that affect innovation change over time and vary across productive activities. Hence theoretical analysis of the innovative enterprise must be integrated with historical study through the use of what I call a historical-transformation methodology —a methodology that stands in sharp contrast to, but can nonetheless be complemented by, the constrained-optimization methodology favored by conventional economists. In surveying so…
Approaches to Sustainable Development: The Public University in the Regional Economy
How can cities and regions foster sustainable development? What role can a university play in this process? These are the central questions addressed in this innovative collection of essays, which brings together scholars in such diverse fields as history, political economy, community studies, industrial theory, economic geography, environmental studies, ergonomics and work design, race and gender studies, manufacturing engineering, and public he…
Comment on "Technological Revolutions and the Evolution of Industrial Structures" (by Giovanni Dosi, Alfonso Gambardella, Marco Grazzi, and Luigi Orsenigo)
This paper is a comment on Technological Revolutions and the Evolution of Industrial Structures: Assessing the Impact of New Technologies Upon the Size and Boundaries of Firms by Giovanni Dosi, Alfonso Gambardella, Marco Grazzi, and Luigi Orsenigo which can be found at: http://ssrn.com/abstract=2209120.
The Innovative Firm
The types of strategy, finance, and organization that support innovation process change over time can vary markedly across industrial activities and institutional environments. The innovative firm must, therefore, be analyzed in a comparative–historical perspective. This article presents and illustrates a framework for analyzing the “social conditions of innovative enterprise” in the comparative and historical experiences of the advanced economie…
Economics (24 works) · Business (13 works) · Political science (12 works) · Market economy (11 works) · Economy (9 works) · Sociology (9 works) · Economic system (8 works) · Political Economy and Marxism (8 works) · Computer Science (7 works) · Economic geography (6 works)