Professor William Lazonick, Founder and President of the Academic-Industry Research Network, discusses the investment triad of households - the prime investors in the education of the young, government agencies investing in education as well as in basic research, and business firms that make use of the knowledge of workers and basic capabilities funded by business. He further explores the adverse consequences of shareholder primacy and describes his theory of the innovative enterprise.
Professor William Lazonick, Founder and President of the Academic-Industry Research Network, discusses the investment triad of households - the prime investors in the education of the young, government agencies investing in education as well as in basic research, and business firms that make use of the knowledge of workers and basic capabilities funded by business. He further explores the adverse consequences of shareholder primacy and describes his theory of the innovative enterprise.