By C. J. Polychroniou (originally published by Truthout) – Following the end of World War II, liberal democracy began to flourish in most countries in the Western world, and its institutions and values were aspired to by movements and individuals under authoritarian and oppressive regimes… [Cross-posted from Truthout publication of July 25, 2008 at https://truthout.org/articles/resurgence-of-political-authoritarianism-interview-with-noam-chomsky/]
Archive | The Debate
FollowWhy shareholder value droves income inequality
By Thomas Clarke (originally published by The Conversation) - The CEO of Domino’s Pizza takes home roughly 435 times the average full-time wage. Jeff Bezos has become the world’s richest person with a A$200 billion fortune off the backs of low-paid Amazon warehouse workers… [Cross-posted from The Conversation publication of July 25, 2018 at http://theconversation.com/why-shareholder-value-drives-income-inequality-100324]
How stock buybacks hurt long-term investors: Q&A with economist William Lazonick
By Arne Alsin (originally published by Harvest) - Facing record-setting levels of buyback activity in 2018, we thought we’d revisit our 2017 interview with award-winning economist William Lazonick… [Cross-posted from Harvest publication of July 24, 2018 at https://www.hvst.com/posts/how-stock-buybacks-hurt-long-term-investors-q-a-with-economist-william-lazonick-oMWTgqLJ]
As Americans get gouged on healthcare, Big Pharma cannibalizes profit to feed shareholders
By Angelo Young (originally published by Salon.com) – To give you an idea of how much Americans are getting gouged on their purchases of medicine, consider this: Over the past three years, the cost of six commonly used drugs categories, including treatments for asthma, diabetes, cancer, and HIV, have risen by an eye-popping average of 30 percent, or […]
Apple: Share buybacks are a problem, not a solution
By Antonio Carradinha (originally published by Seeking Alpha) - Apple (AAPL) announced their earnings report last week on Monday, beating both top and bottom line expectations easily. Strength across different segments such as services and wearables carried the stock higher, compensating for quarterly iPhone sales falling below expectations… [Cross-posted from Seeking Alpha publication of July 5, 2018 at https://seekingalpha.com/article/4170696-apple-problem-buybacks]
Senators join call for revisiting SEC stock buyback practices and rules
By Hazel Bradford (originally published by Pensions & Investments) – A group of Democratic senators called Thursday for the Securities and Exchange Commission to hear from the public about reviewing rules covering stock buybacks… [Cross-posted from Pensions & Investments publication of June 29, 2018 at http://www.pionline.com/article/20180629/ONLINE/180629821/senators-join-call-for-revisiting-sec-stock-buyback-practices-and-rules]
How Big Pharma was captured by the one percent
By Alexander Zaitchik (originally published by New Republic) - Donald Trump’s plan to lower prescription drug prices, announced May 11 in the Rose Garden, is a wonky departure for the president. In his approach to other signature campaign pledges, Trump has selected blunt-force tools: concrete walls, trade wars, ICE raids… [Cross-posted from New Republic publication of June 28, 2018 at https://newrepublic.com/article/149438/big-pharma-captured-one-percent]
Support for GOP tax scam drops as corporate America gorges on stock buybacks
By Andrea Germanos (originally published by Common Dreams) - Roughly six months after President Donald Trump put his signature on the GOP “tax scam,” a new poll reveals dwindling support for the corporate-friendly law whose benefits went mostly to the nation’s wealthiest… [Cross-posted from Common Dreams publication of June 27, 2018 at https://www.commondreams.org/news/2018/06/27/support-gop-tax-scam-drops-corporate-america-gorges-record-stock-buybacks]
Shareholders are overrated
By Susan Holmberg (originally published by Quartz at Work) - For over four decades, corporations have shifted their strategy to one singular goal: maximizing payouts for shareholders… [Cross-posted from Quartz at Work publication of June 25, 2018 at https://qz.com/work/1313651/shareholders-are-overrated/]
Is our focus on quarterly earnings hurting the U.S. economy
By Dwyer Gunn (originally published by Pacific Standard) - Last week, Jamie Dimon, the chief executive officer of JPMorgan Chase, and Warren Buffett, the well-known value investor and chairman of Berkshire Hathaway, penned an op-ed in the Wall Street Journal urging public companies to “consider moving away from providing quarterly earnings-per-share guidance… [Cross-posted from Pacific Standard publication of June 12, […]