Buybacks blamed for lack of U.S. prosperity

By Russ Britt

“As major stock indexes touch new highs on a regular basis, one academic says those profits are here courtesy of massive share buyback initiatives throughout the bulk of corporate America — and could come back to haunt the markets at some point.

Writing in September’s Harvard Business Review, University of Massachusetts economics professor William Lazonick says corporate buybacks are lining executives’ pockets, but are coming at the expense of productivity as well as overall prosperity.”…

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