Predatory Value Extraction Turns the World - Dr. Bill Lazonick, UMass Economics/AIRnet, #314

Professor William Lazonick, emeritus Professor of Economics and
founding director of the Academic Industry Research Network, is
one of the world’s foremost experts on Shareholder Value Ideology
and its impact on society. In our first conversation, we
uncovered the fundamentals of shareholder value ideology and the
harmful effects of stock buybacks on the working class and
economic inequality. This discussion goes deeper into how
financial institutions capitalized on the deregulation of the
financial industry in the 1980s, leading to a wave of corporate
greed and wealth concentration. Topics include the rise of hedge
funds, the devastation caused by corporate raiders, how private
equity contributes to the decline in quality of goods and
services (termed "encrapification"), and policy strategies to
rebuild an economy that prioritizes American workers over Wall
Street profits. DEMYSTICON 2025 ANNUAL MEETING IN PORTUGAL!!!
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(00:00) Go! (00:09:45) Carl Icahn's Influence and Tactics
(00:15:02) Regulatory Changes and Hedge Fund Empowerment
(00:21:18) Institutional Shareholder Services and Proxy Voting
(00:27:24) Proxy Advisory Services Market (00:31:19) Hedge Funds
and Power Dynamics in Corporations (00:34:03) General Electric
Case Study (00:45:28) Hedge Fund Activism and Industry Impact
(01:03:20) Impact of Private Equity and Financial Practices
(01:09:07) Asset Distribution Disparities (01:15:29) Shareholder
Value and Economy Dynamics (01:22:26) Employee Investment and
Stock Market (01:30:48) Tesla and Corporate Governance (01:36:56)
Apple's Board and Stock Buybacks (01:42:08) Biopharmaceutical
Sector Dynamics (02:00:59) US Competitiveness and Stock Buybacks
(02:06:09) Soft Landing Approach to Financial Reforms (02:17:26)
Economic Literacy and Public Perception (02:22:11) Globalization
and Economic Mobility #Economics, #ShareholderValue,
#FinancialCrisis, #StockBuybacks, #HedgeFunds, #Finance,
#CorporateGovernance, #WallStreet, #FinancialMarkets,
#EconomicGrowth, #PrivateEquity, #Innovation, #BusinessStrategy,
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