May
10
Why Stock Buybacks Are Good For The Economy And The Country
By
Self-interest has always been a primary tenet of capitalism. As Adam Smith famously wrote, “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.” Private interest, in the aggregate, is often a public good.
Yet in an article in Harvard Business Review, William Lazonick argued just the opposite. In particular, he accused greedy CEO’s of advocating for public research, while at the same time pumping money into share buybacks in order to gin up their stock based compensation, enriching themselves while impoverishing the rest of us…
Why Stock Buybacks Are Good For The Economy And The Country
