10-14 April, 2018 | New Orleans, US Outline: Unicorns stalk Silicon Valley (promising huge returns to investors), big pharma ramps up drug prices on the back of knowledge monopolies (buying back their shares with the profits), multinational corporations hide ‘their’ intellectual property in offshore shell companies (avoiding much-needed taxes), and governments turn the air we … More Call For Papers: Rent, rent-seeking and rentiership in geographical perspective
Are corporations’ financial investments crowding out other corporate spending? Leila Davis looks at the financialization of non-financial corporations—i.e., firms that traditionally produce goods and services and invest in machinery, buildings and technology rather than trade in financial assets—and asks what it means that they’re taking on large financial investments. We know that the same time … More Leila Davis: Are Corporations’ Financial Investments Slowing Growth?
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, … More How “Shareholder Value” is Killing Innovation
September (19-)20-22, 2017 (exact start and end time: t.b.d.) Leuven, Belgium We have a few openings for speakers at this international conference. I still have to work the numbers but there will probably be a low fee of a maximum of ?100 to cover coffee and a few meals. We invite presentations that are related … More Call for Papers: The Real Estate/Financial Complex International Conference
by Cédric Durand, translated by David Broder. From Verso: The 2007–08 credit crisis and the long recession that followed brutally exposed the economic and social costs of financialization. Understanding what lay behind these events, the rise of “fictitious capital” and its opaque logic, is crucial to grasping the social and political conditions under which we … More New Book: Fictitious Capital – How Finance Is Appropriating Our Future
Michael Hudson explains that even though housing prices are back up at 2008 levels homeownership is at a much lower level and banks have their loans guaranteed by the US government…
William Lazonick, professor at University of Massachusetts Lowell, explains how rationalization, marketization, and globalization characterize the U.S. economy during the past 50 years, and how the behavior of companies and fate of American workers have changed during this process.