Center for Industrial Competitiveness
Since the mid-1990s, the Center for Industrial Competitiveness has been known for its path-breaking research on industrial innovation, regional development, corporate governance, financialization, and sustainable prosperity. Our research personnel work through collaborative networks in the United States, Asia, Europe, and Latin America. Our research and consulting on industrial competitiveness throughout the world provide us with a global perspective on regional development. At the same time, through an accumulation of detailed studies of industrial sectors, we have developed a profound understanding of the inner workings of the Massachusetts economy.
Featured research and dissemination activities:
Follow William Lazonick’s weekly blog posts on New Deal 2.0. He is writing the series on the theme, “Breaking through the jobless recovery”.
Through the Center for Industrial Competitiveness, Professor William Lazonick is running a project on “Financial Institutions for Innovation and Development”, funded by the Ford Foundation.
The research on the Ford Foundation project is complemented by collaborative work being done on the “Finance, Innovation, and Growth” project, funded by the European Commission’s Seventh Framework Programme, and on “The Stock Market and Innovative Enterprise” project, funded by The Institute for New Economic Thinking.
Lazonick wins Schumpeter Prize
William Lazonick’s book, Sustainable Prosperity in the New Economy? Business Organization and High-Tech Employment in the United States, published by the Upjohn Institute for Employment Research in 2009 was awarded the 2010 Schumpeter Prize by the International Schumpeter Society.
Reviews of "Sustainable Prosperity in the New Economy?":
- “Lazonick’s latest book [is] a bold and wholly engaged attempt to make sense of decades of structural change in the American economy. It is a work that merits close attention from theorists, analysts, policymakers, and historians alike." – Michael A. Bernstein, Business History Review (Read the entire Review Essay by Michael A. Bernstein, professor of history and economics and the senior vice president for academic affairs and provost at Tulane University.)
- “Sustainable Prosperity is a significant achievement, a synthesis of over two decades of research and collaboration in the United States, Asia, and Europe. This timely book should be read by a range of professionals including historians of business and technology, economists, and, one hopes, financial regulators and decision makers in Washington, New York, and Silicon Valley.” – Andrew Russell, Enterprise and Society.
- “This is a fascinating book, essential for modern business and labor historians, highly useful for historians of any question where capitalism matters. It mainly concerns the reorganization of business, the firm and operations, in the U.S. information and communication technology industries (ICT) from the 1960s to the latest crash. But as it shows how this richly significant transformation happened, it tells much as well about U.S. capitalism's general development into its newest, speculative stage. It is modern history become contemporary history.” – John Womack, Jr., The Journal of the Historical Society.
- William Lazonick spoke at the annual conference of the Institute for New Economic Thinking (INET), which took place on April 8-11, 2011 at the Mount Washington Hotel, Bretton Woods, New Hampshire. This year's annual conference was titled "Crisis and Renewal: International Political Economy at the Crossroads". Professor Lazonick presented his paper "The Innovative Enterprise and the Developmental State: Toward an Economics of 'Organizational Success'" (pdf) in the "Market or State?" session.
- William Lazonick was interviewed on the subject of stock repurchases, stock options and executive pay by Paul Jay, Senior Editor of The Real News Network (TRNN.com) at the annual conference of the Institute for New Economic Thinking (INET) on April 10, 2011, at the Mount Washington Hotel, Bretton Woods, New Hampshire.
- In May 2010 at a conference of the Finance, Innovation, and Growth (FINNOV) project in Pisa, Italy, William Lazonick recorded a video on the subject of stock repurchases.
- William Lazonick, “Innovative Enterprise and Economic Development” in Wim Naudé, ed., Entrepreneurship and Economic Development, World Institute for Development Economics Research, United Nations University, 2011: 18-33.
- William Lazonick, “Entrepreneurship and the Developmental State,” in Wim Naudé, ed., Entrepreneurship and Economic Development, World Institute for Development Economics Research, United Nations University, 2011: 254-270.
- William Lazonick, ”Innovative Business Models and Varieties of Capitalism: Financialization of the US Corporation,” Business History Review, 84, 4, 2010: 675-702.
- William Lazonick, “The Explosion of Executive Pay and the Erosion of American Prosperity,” Entreprises et Histoire, 57, 2010: 141-164.
- William Lazonick, “The Chandlerian Corporation and the Theory of Innovative Enterprise,” Industrial and Corporate Change, 19, 2, 2010: 317-349.
- William Lazonick, “The New Economy Business Model and the Crisis of US Capitalism,” Capitalism and Society, 4, 2 2009, article 4.
- William Lazonick and Öner Tulum, “US Biopharmaceutical Finance and the Sustainability of the Biotech Business Model”, Research Policy, 2011.
- William Lazonick, “Comment on Nathan Rosenberg, ‘Was Schumpeter a Marxist?’”, Industrial and Corporate Change, 2011.
- William Lazonick and David J. Teece, eds., Management Innovation: Essays in the Spirit of Alfred D. Chandler, Jr., Oxford University Press, forthcoming.
- William Lazonick, “Alfred Chandler’s Managerial Revolution: Developing and Utilizing Productive Resources,” in Malcolm Warner and Morgen Witzel, eds., Oxford Handbook of Management Theorists, Oxford University Press, 2011.
- William Lazonick, “Why Executive Pay Matters to Innovation and Inequality,” in Peer Zumbansen and Cynthia Williams, eds., The Embedded Firm: Labour, Corporate Governance, and Finance Capitalism, Cambridge University Press, 2011.
- William Lazonick, “The Explosion of Executive Pay and the Erosion of American Prosperity,” in Wilco Oostwouder and Hans Schenk, eds., Governance of the Modern Firm under Financial Turbulence, Edward Elgar, forthcoming.
- William Lazonick, “Corporate Governance, Innovative Enterprise, and Executive Pay,” in Michael Dietrich and Jackie Krafft, eds., Handbook on the Economics and Theory of the Firm, Edward Elgar, 2011.