Congratulations to William Lazonick, long-time BHC presenter, on winning the 2015 McKinsey award for the most influential article in the Harvard Business Review. He got the award for his paper “Profits Without Prosperity.”
This year’s winner addresses some fundamental questions about capitalism, finance, and wealth creation—specifically, how and why companies use stock buyback programs to deploy surplus capital, as opposed to investing in their businesses.
Since 1959, the McKinsey Awards have recognized the HBR articles most likely to have a major influence on managers around the world. This award is a tremendous honour for Lazonick. It also reflects well on the scholarly communities of which he is a part, including the Business History Conference.
Read more here.