The Economist: Blue chips are addicted to ‘corporate cocaine’

By Steve Denning

“The pro-business journal, The Economist, last week declared in two articles (here and here) that “blue chips are engaged in their own kind of financial excess: a dangerous addiction to share buy-backs.” Share buybacks “have become a kind of corporate cocaine that induces a temporary feeling of invincibility but masks weakness and vacuity.”…

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