A summary of Lazonick’s work showing how corporate buybacks of shares have artificially inflated share prices, thereby boosting executive pay, while depriving the real economy of funds for investment in productivity.
Huge concentrations of wealth have distorted and destabilised financial markets, which now need to be reformed.
How rising wealth inequality, leading to dramatic growth in institutional cash pools, has led to an unbalanced and unstable economy.
How the rise in wealth inequality means that households now borrow from businesses, not the other way around.
A forensic examination of a stylised company’s balance sheet, to show that business saving should, in fact, be the true source of investment.
An explanation of why national income equals national expenditure, again as a stepping stone to the next post.