{"product_id":"predatory-value-extraction-william-lazonick-9780198846772","title":"Predatory Value Extraction: How the Looting of the Business Corporation Became the Us Norm and How Sustainable Prosperity Can Be Restored","description":"\u003cem\u003ePredatory Value Extraction\u003c\/em\u003e 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\u003cbr\u003eof 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 \u003cem\u003evalue creation\u003c\/em\u003e and \u003cem\u003evalue extraction\u003c\/em\u003e in the U.S. economy, \u003cbr\u003eand the corporate-governance institutions that determine this balance in the nation's major business corporations. The imbalance has become so extreme that \u003cem\u003epredatory value extraction\u003c\/em\u003e is now a central economic activity, to the point at which the U.S. economy as a whole can be aptly described as a\u003cbr\u003e\u003cem\u003evalue-extracting \u003c\/em\u003eeconomy. \u003cp\u003e\u003c\/p\u003eBalancing 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\u003cbr\u003eprocess, 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.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e William Lazonick, Jang-Sup Shin\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 0198846770\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780198846772\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Oxford University Press, USA\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 01\/28\/2020\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 256\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Hardcover\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.20lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.30h x 6.30w x 0.90d","brand":"William Lazonick","offers":[{"title":"Hardcover","offer_id":43941643845887,"sku":"9780198846772","price":52.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/products\/img_91b0f807-8ebb-4bfa-a08b-44e70a25af1d.jpg?v=1681454123","url":"https:\/\/www.whiterainbookhouse.com\/products\/predatory-value-extraction-william-lazonick-9780198846772","provider":"WR Book House","version":"1.0","type":"link"}