Archive
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Working Paper
Working PaperThe Pursuit of Shareholder Value: Cisco’s Transformation from Innovation to Financialization
Feb 2023
On the dereliction of key US-based business corporations to take the lead in making the investments in organizational learning required to generate cutting-edge communication-infrastructure products.
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Working Paper
Working paperEquality Denied: Tech and African Americans
Feb 2022
EEO-1 employment data document the vast over-representation of Asian Americans and vast under-representation of African Americans at tech companies in recent years. How did this happen?
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Working Paper
Working Paper SeriesGovernment as the First Investor in Biopharmaceutical Innovation: Evidence From New Drug Approvals 2010–2019
Sep 2020
Amid debates over costs—and profits—from a coronavirus vaccine, a new study shows that taxpayers have been footing the bill for every new drug approved between 2010 and 2019
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Working Paper
Working Paper SeriesUS Pharma’s Financialized Business Model
Jul 2017
Price gouging in the US pharmaceutical drug industry goes back more than three decades.
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Working Paper
Working Paper SeriesThe Functions of the Stock Market and the Fallacies of Shareholder Value
Jun 2017
Conventional wisdom has it that the primary function of the stock market is to raise cash for companies for the purpose of investing in productive capabilities. The conventional wisdom is wrong.
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Working Paper
Working Paper SeriesThe Mismeasure of Mammon: Uses and Abuses of Executive Pay Data
Aug 2016
Report to the Institute for New Economic Thinking on the statistical measurement and policy implications of the compensation of the highest- paid U.S. corporate executives
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Working Paper
Working Paper SeriesLabor in the Twenty-First Century: The Top 0.1% and the Disappearing Middle-Class
Jan 2015
The ongoing explosion of the incomes of the richest households and the erosion of middle-class employment opportunities for most of the rest have become integrally related in the now-normal operation of the U.S. economy.