William Lazonick Books

William Lazonick is a Canadian economist focused on innovation and competition within the global economy. His research aims to uncover how national economies can achieve stable and equitable growth through innovative enterprise. He originated the theory of innovative enterprise, which he posits offers both a crucial intellectual framework for understanding economic performance and a fundamental critique of neoclassical market theory. Lazonick's current work investigates how the financialization of U.S. industrial corporations—evidenced by substantial shareholder payouts and soaring executive compensation—contributes to employment instability, income inequality, and the erosion of the nation's innovative capacity. His comparative research also explores the societal conditions fostering or hindering innovative enterprise across economies like Britain, Japan, China, and the United States.