9780198846772-0198846770-Predatory Value Extraction: How the Looting of the Business Corporation Became the US Norm and How Sustainable Prosperity Can Be Restored

Predatory Value Extraction: How the Looting of the Business Corporation Became the US Norm and How Sustainable Prosperity Can Be Restored

ISBN-13: 9780198846772
ISBN-10: 0198846770
Edition: Illustrated
Author: Lazonick, William, Shin, Jang-Sup
Publication date: 2020
Publisher: Oxford University Press
Format: Hardcover 256 pages
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Book details

ISBN-13: 9780198846772
ISBN-10: 0198846770
Edition: Illustrated
Author: Lazonick, William, Shin, Jang-Sup
Publication date: 2020
Publisher: Oxford University Press
Format: Hardcover 256 pages

Summary

Acknowledged authors Lazonick, William, Shin, Jang-Sup wrote Predatory Value Extraction: How the Looting of the Business Corporation Became the US Norm and How Sustainable Prosperity Can Be Restored comprising 256 pages back in 2020. Textbook and eTextbook are published under ISBN 0198846770 and 9780198846772. Since then Predatory Value Extraction: How the Looting of the Business Corporation Became the US Norm and How Sustainable Prosperity Can Be Restored textbook was available to sell back to BooksRun online for the top buyback price of $ 2.97 or rent at the marketplace.

Description

Predatory Value Extraction explains how an ideology of corporate resource allocation known as 'maximizing shareholder value' (MSV) that emerged in the 1980s came to dominate strategic thinking in business schools and corporate boardrooms in the United States. Undermining the social foundations of sustainable prosperity, it resulted in employment instability, income inequity, and slow productivity growth. In explaining what happened to sustainable prosperity, William Lazonick and Jang-Sup Shin focus on the growing imbalance between value creation and value extraction in the U.S. economy, and the corporate-governance institutions that determine this balance in the nation's major business corporations. The imbalance has become so extreme that predatory value extraction is now a central economic activity, to the point at which the U.S. economy as a whole can be aptly described as a value-extracting economy.

Balancing the contributions of economic actors to value creation with their power to extract value provides the foundation for stable and equitable economic growth. When certain economic actors are able to assert their power to extract far more value than they contribute to the value-creation process, an imbalance occurs which, when extreme, leads to dire economic, political, and social consequences. This book not only explores these consequences, but also sets out an agenda for restoring sustainable prosperity.

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