Corporate Governance and Sustainable Prosperity (Jerome Levy Economics Institute)

Annotation How the persistent worsening of the income distribution in the US in the 1980s and 1990s be explained? 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 behavior, and the macroeconomics of household saving behavior. 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 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. Front Matter....Pages i-xi Corporate Resource Allocation and Employment Opportunities in the United States....Pages 1-10 Maximizing Shareholder Value: A New Ideology for Corporate Governance....Pages 11-36 Organizational Learning and International Competition: The Skill-Base Hypothesis....Pages 37-77 Good Jobs and the Cutting Edge: The US Machine Tool Industry....Pages 78-103 Good Jobs Flying Away: The US Jet Engine industry....Pages 104-140 What Prognosis for Good Jobs? The US Medical Diagnostic Imaging Equipment Industry....Pages 141-182 Earnings Inequality and the Quality of Jobs: Current Research and a Research Agenda....Pages 183-225 The Japanese Economy and Corporate Reform: What Path to Sustainable Prosperity?....Pages 226-254 Corporate Governance in Germany: Productive and Financial Challenges....Pages 255-300 Back Matter....Pages 301-312 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 in the US. It analyzes the factors which have influenced corporate investment since the 1980s By many measures of economic performance, in the last half of the 1990s, the American economy looked like a winner. Edited By William Lazonick And Mary O'sullivan. Includes Bibliographical References And Index.