Project Director

William Lazonick

Project Director of Financial Institutions for Innovation and Development

William Lazonick is professor and director of the Center for Industrial Competitiveness at University of Massachusetts Lowell. He is the director of the project on Financial Institutions for Innovation and Development (FIID), funded by the Ford Foundation. Lazonick is the co-founder and president of The Academic-Industry Research Network (  He is also a visiting professor (2010-2015) in the Faculty of Economics at the University of Ljubljana, where he teaches a PhD course on the theory of innovative enterprise.

Previously, Lazonick was Assistant and Associate Professor of Economics at Harvard University (1975-1984), Professor of Economics at Barnard College of Columbia University (1985-1993), and Visiting Scholar and then Distinguished Research Professor at INSEAD (1996-2007). He has also been on the faculties of University of Toronto, Harvard Business School, and University of Tokyo, and was a visiting member of the Institute for Advanced Study in Princeton.

Lazonick holds an Bachelor of Commerce degree from University of Toronto (1968), a Master of Science (Economics) degree from London School of Economics (1969), and a Doctor of Philosophy (Economics) degree from Harvard University (1975). In 1991 Uppsala University awarded him an honorary doctorate for his work on the theory and history of economic development.

He is the author or editor of twelve books, including Competitive Advantage of the Shop Floor (Harvard University Press, 1990) and Business Organization and the Myth of the Market Economy (Cambridge University Press, 1991), and some 100 academic articles. His book, Sustainable Prosperity in the New Economy? Business Organization and High-Tech Employment in the United States (Upjohn Institute for Employment Research 2009) was awarded the 2010 Schumpeter Prize by the International Schumpeter Society. His article, “Innovative Business Models and Varieties of Capitalism: Financialization of the U.S. Corporation,” won the prize from Harvard Business School for the best article in Business History Review in 2010 (Lazonick had won the same prize for an article published in the journal in 1983). His latest book, co-edited with David J. Teece, is Management Innovation: Essays in the Spirit of Alfred D. Chandler, Jr. (Oxford University Press, 2012).  Lazonick is currently working on a book, The Theory of Innovative Enterprise, to be published by Oxford University Press.

Lazonick is a leading critic of the financialized US business corporation, holding it largely responsible for the extreme concentration of income at the top and the disappearance of stable and remunerative employment opportunitities in the United States. His opinion pieces have been published in BusinessWeek, The Financial Times, Huffington Post, The Guardian, and AlterNet, among other places. He is regularly invited to speak to academic, business, and government audiences throughout the world.