Before Capitalism morphed into “Financialism”, the stock market used to allocate investment to the most promising opportunities.  Any wonder why manufacturing jobs have emigrated?

From Thomas Heath of the Washington Post, April 2018:  “Companies in the United States have spent $5.1 trillion on buybacks according to Birinyi Associates.” and “in 2018, are expected to distribute up to $600 billion or more through stock buybacks.”  Considerable controversy over whether this frees up capital to seek better opportunities OR enhance the stock options returns to senior executives and Board members.

Where have these proceeds gone?  Into “Weaponized Philanthropies” of libertarian plutocrats?  According to reporting by Jane Mayer of the New Yorker, by 2014, more than $800 billion had accumulated in their tax-free, opaque, foundations.  See Mayer, and here