Corporate Governance and Sustainable Prosperity
How can we explain the persistent worsening of the income distribution in the United
States in the 1980s and 1990s? What are the prospects for the re-emergence of sustainable
prosperity in the US economy over the next generation? Situating these questions
within a wider context through historical analysis and comparisons with Germany and
Japan, this book focuses on the microeconomics of corporate investment behaviour,
and the macroeconomics of household saving behaviour. Specifically, the contributors
analyze how the combined pressures of excessive corporate growth, international competition,
and intergenerational dependence have influenced corporate investment over the past
two decades. They also offer a perspective on how corporate investment in skill bases
can support sustainable prosperity, with studies drawn from the machine tool, aircraft
engine, and medical equipment industries.
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Notes on the Contributors
Introduction: Corporate Resource Allocation and Employment Opportunities; W.Lazonick & M.O'Sullivan
Maximising Shareholder Value: A New Ideology for Corporate Governance; W.Lazonick & M.O'Sullivan
Organizational Learning and International Competition: The Skill-Base Hypothesis; W.Lazonick
Good Jobs and the Cutting Edge: The U.S.Machine Tool Industry; R.Forrant
Good Jobs Flying Away: The U.S. Jet Engine Industry; B.Almeida
What Prognosis for Good Jobs?: The U.S. Medical Diagnostic Imaging Equipment Industry; C.Tilly with M.Handel
Earnings Inequality and the Quality of Jobs: Current Research and a Research Agenda; P.Moss
The Japanese Economy and Corporate Reform: What Path to Sustainable Prosperity?; W.Lazonick
Corporate Governance in Germany: Productive and Financial Challenges; M.O'Sullivan
Index
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