How “Shareholder Value” is Killing Innovation — Radical Political Economy

By William Lazonick, The prevailing stock market ideology enriches value extractors, not value creators. Conventional wisdom holds that the primary function of the stock market is to raise cash that companies use to invest in productive capabilities. The conventional wisdom is wrong. Academic research on corporate finance shows that, compared with other sources of funds, […]

via How “Shareholder Value” is Killing Innovation — Radical Political Economy

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