William Lazonick is professor of economics and director of the UMass Center for Industrial Competitiveness. He co-founded and is president of The Academic-Industry Research Network (www.theAIRnet.org). He is also affiliated the University of Bordeaux, University of Ljubljana, and University of Toulouse. Previously, Lazonick was Assistant and Associate Professor of Economics at Harvard University, Professor of Economics at Barnard College of Columbia University, and Distinguished Research Professor at INSEAD. He has also been on the faculties of the University of Tokyo, Harvard Business School, and University of Toronto, and was a visiting member of the Institute for Advanced Study in Princeton . Numerous governmental agencies and private foundations in Europe, the United States, and Japan have funded his research. 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, 2009) won the 2010 Schumpeter Prize. In recent years many of his books have been translated into Chinese. He is currently working on a book, The Theory of Innovative Enterprise, to be published by Oxford University Press. Professor Lazonick holds a Bachelor of Commerce degree from the University of Toronto (1968), a Master of Science degree in economics from the London School of Economics (1969), and a Doctor of Philosophy degree in economics from Harvard University (1975). In 1991 Uppsala University awarded him an honorary doctorate for his work on the theory and history of economic development.