Corporate America, critics spar over share buybacks

Washington

THE latest pitched battle between Corporate America and its critics involves stock buybacks - large companies' purchases of their own shares on the stock market. The aim is to raise share prices and satisfy investors. But the practice has triggered outrage from critics, who argue that the buybacks discourage productive investment, higher wages and worker retraining. Big business is accused of sacrificing the nation's future for short-term greed.

Here's the background.

No one disputes that buybacks - once rare - have soared. In 2018, companies in the Standard & Poor's index of 500 firms spent a recor…