Nick, Goldy, and their guests William Lazonick and Lenore Palladino explain why “shareholder value maximization” is the world’s dumbest idea. 

William Lazonick: Professor of economics at University of Massachusetts Lowell, visiting Professor at University of Ljubljana, professeur associé at Institut Mines-Télécom in Paris, and professorial research associate, SOAS, University of London. His book ‘Sustainable Prosperity in the New Economy? Business Organization and High-Tech Employment in the United States’ won the 2010 Schumpeter Prize, and he has written extensively on corporate profits.

Twitter: @Lazonick

Lenore Palladino: Senior Economist and Policy Counsel at the Roosevelt Institute, where she brings expertise to Roosevelt’s work on inequality and finance. Her research and writing focuses on financial reform, financial taxation, labor rights, and financial crises. Her publications have appeared in The Nation, The New Republic, State Tax Notes, and other venues. 

Twitter: @lenorepalladino

Further reading: 

Stock buybacks: From retain-and reinvest to downsize-and-distribute

https://hbr.org/2014/09/profits-without-prosperity/

Ending Shareholder Primacy in Corporate Governance

Rewriting the Rules to Take Aim at Stock Buybacks and Force Companies to Invest in Their Workers: The STOP Walmart Act

What Wells Fargo’s $40.6 Billion in Stock Buybacks Could Have Meant for Its Employees and Customers

http://rooseveltinstitute.org/towards-accountable-capitalism/