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In the latest installment of his series “Breaking Through the Jobless Recovery,” economist William Lazonick explores how the agency meant to protect stock market investors has instead promoted stock-price manipulation and stratospheric executive compensation. In 1991, well-known compensation consultant Graef S. Crystal published In Search of Excess: The Overcompensation of American Executives in response to an explosion in

In striking ways, the coronavirus (COVID-19) pandemic has exposed the fragility of the US economy and the immense power disparities and systemic disadvantages built into our social contract. Tens of millions of people across entire sectors of our economy are out of work—and many were living paycheck to paycheck before this crisis hit. Right now, the Roosevelt Institute’s work

Janelle Jones, the managing director of policy and research at Groundwork Collaborative, has coined what she calls a personal motto and economic ideology: “Black women best.” She means that if Black women—who, since our nation’s founding, have been the most disadvantaged by the rules that structure our society—can one day thrive in the economy, then

Following a year-long congressional investigation into Wells Fargo’s egregious consumer abuses, lax corporate management, and toxic corporate culture, CEO Charles Scharf and Well Fargo’s board members will testify before the House Financial Service Committee this week. This hearing comes in the wake of a detailed report, written by the Financial Services Committee staff, exposing the

Today is Black Friday, the start of the holiday shopping season. Retail workers will leave their Thanksgivings early—if they enjoy one at all—to start long shifts for too little pay in order to support the consumer binging that is America’s holiday season. The deals for shoppers may be sweet, and the profits for companies will

Thank you, Chairwoman Maloney and Ranking Member Huizenga, for inviting me to speak today. It is an honor to be here. My name is Lenore Palladino, and I am Assistant Professor of Economics & Public Policy at the University of Massachusetts Amherst, a Fellow at the Roosevelt Institute, and Research Associate at the Political Economy

Late last month, the Business Roundtable (BRT)—a collection of 181 of the country’s largest corporations—announced that it was breaking from over 20 years of precedent. Instead of prioritizing shareholder value over everything else, the BRT declared that it would elevate the interests of all other stakeholders—including customers, communities, and suppliers—alongside it. Most notably, the very

Imagine a world in which the most pressing issue is to slash taxes for the rich and only the rich, costing the US government hundreds of billions of dollars and doing little to spur economic growth. Imagine a policy so unequal that even Mitt Romney has his doubts. Reader, I give you the capital gains

FOR IMMEDIATE RELEASE: June 19, 2019 CONTACT: Ariela Weinberger, aweinberger@rooseveltinstitute.org The High Cost of Shareholder Power in Big Pharma New Roosevelt brief illustrates the magnitude of Big Pharma spending on shareholders NEW YORK, NY – At a time when Americans pay record prices for medications, pharmaceutical companies generate record profits devoted largely to rewarding shareholders

Despite Big Pharma’s claim that high-cost medicines are the price society must pay for innovation, recent research provides ample evidence that overpriced medicines are not necessary for the industry to find cures or revolutionize. Rather, high-cost and low-quality medicines are the price patients pay for an industry that prioritizes profit-seeking over public health. Like all