Professor William Lazonick explains how companies have turned from employment security, how corporate leadership structures are hurting the entire economy, what are stock buy backs, how stock buy backs are different from traditional stock purchasing, how Ronald Reagan deregulated the stock market, why the SEC can’t monitor buybacks, why stock rewards have become more and more popular, the similarity between stock buybacks and pump and dump schemes, how these schemes keep wages down, the real story behind executive pay, why Reagan economic policies failed to put money in the REAL economy, why real wages used to track productivity growth, and why it doesn't do so anymore.
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