February 19, 2019

What is the purpose of a corporation?

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:  https://www.brookings.edu/research/stock-buybacks-from-retain-and-reinvest-to-downsize-and-distribute/ https://hbr.org/2014/09/profits-without-prosperity/ http://rooseveltinstitute.org/ending-shareholder-primacy-corporate-governance/ http://rooseveltinstitute.org/rewriting-rules-take-aim-stock-buybacks-and-force-companies-invest-their-workers-stop-walmart-act/ http://rooseveltinstitute.org/what-wells-fargos-40-6-billion-stock-buybacks-could-have-meant-its-employees-and-customers/ http://rooseveltinstitute.org/towards-accountable-capitalism/ 
  • 48 minutes
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February 15, 2019
February 12, 2019
February 5, 2019
January 31, 2019
January 29, 2019
January 21, 2019

Is the American Dream a lie?

Is the American Dream dead? Is economic mobility a myth? The foundational promise of America is that anyone, if they work hard and play by the rules, can enjoy a secure, middle-class life. Christian Cooper and Khiara Bridges join us to discuss the prevailing narrative that we each control our own economic destiny. Christian Cooper: Derivatives trader and author. Frequent commentator in the Wall Street Journal, Reuters, Financial Times, and Bloomberg News. Director of Banking for a New Beginning, a public/private partnership between The Aspen Institute and the US Department of State. Member of the roundtables at the Washington-based think tank Center for Strategic and International Studies.  Twitter: @christiancooper Khiara Bridges: Associate Dean for Equity, Justice, and Engagement at the Boston University School of Law, specializing in the intersectionality of race, reproductive justice, and law. Professor of Law and Professor of Anthropology at Boston University. Author of The Poverty of Privacy Rights and Reproducing Race: An Ethnography of Pregnancy as a Site of Racialization.  Further reading:  Why Poverty Is Like a Disease: http://nautil.us/issue/47/consciousness/why-poverty-is-like-a-disease Excavating Race-Based Disadvantage Among Class-Privileged People of Color: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3143892  Income Mobility Charts: https://www.nytimes.com/interactive/2018/03/27/upshot/make-your-own-mobility-animation.html  Divided We Fall: https://newrepublic.com/article/141644/divided-fall-trump-symptom-constitutional-crisis-inequality  Raj Chetty in 14 charts: Big findings on opportunity and mobility we should all know: https://www.brookings.edu/blog/social-mobility-memos/2018/01/11/raj-chetty-in-14-charts-big-findings-on-opportunity-and-mobility-we-should-know/ 
  • 43 minutes
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January 18, 2019
January 15, 2019

Where does economic growth really come from?

January 7, 2019
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