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.

Autorentext
BETH ALMEIDA Research Economist, International Association of Machinists and Aerospace Workers ROBERT FORRANT Associate Professor, Department of Regional Economic and Social Development MICHAEL HANDEL Assistant Professor, Sociology Department, University of Wisconsin-Madison PHILIP MOSS Professor Department of Regional Economic and Social Development, University of Massachusetts Lowell CHRIS TILLY University Professor, Department of Regional Economic and Social Development, University of Massachusetts Lowell

Inhalt
Preface 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