ML-Implode News - How the stock market destroyed the middle class

"The â€˜buyback corporation' is in large part responsible for a national economy characterized by income inequality, employment instability, and diminished innovative capacity," wrote William Lazonick, an economics professor at the University of Massachusetts at Lowell in a new paper published by the Brookings Institution.
Lazonick argues that corporations -- which once retained a sizable share of profits to reinvest (including investing in their workforce by paying them enough to get them to stay) -- have adopted a "downsize-and-distribute" model.

Last week, the CEOs of America's 500 biggest companies received a letter from Lawrence Fink, CEO of BlackRoc, the largest asset manager in the world, saying exactly the same thing.

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How the stock market destroyed the middle class