Why Stock Buybacks Are Dangerous for the Economy

By William Lazonick, Mustafa Erdem Sakinç and Matt Hopkins

“Even as the United States continues to experience its longest economic expansion since World War II, concern is growing that soaring corporate debt will make the economy susceptible to a contraction that could get out of control. The root cause of this concern is the trillions of dollars that major U.S. corporations have spent on open-market repurchases — aka “stock buybacks” — since the financial crisis a decade ago.”…

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