When Stock Buybacks Are Not a Waste of Money
Harvard Business Review
NOVEMBER 4, 2014
In an epic September 2014 HBR article, “ Profits Without Prosperity ,” economist William Lazonick blamed buybacks for much of what ails the U.S. Buying back stock, pretty much corporate America’s favorite thing to do with its money over the past decade, has come in for a lot of criticism this fall.
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