Noah Smith, Columnist

A Stock Buyback Ban Won’t Make Much Difference

Fixing other things that are wrong with corporate America is more important.

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Photographer: Alex Wong/Getty Images North America
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Stock buybacks are a fraught and confusing issue. In recent years, the value of corporate share repurchases has soared:

A number of politicians have decried this practice, and sought restrictions or a ban. U.S. Senator Tammy Baldwin has led the charge against buybacks, while Representative Alexandria Ocasio-Cortez has labeled the practice a “pyramid scheme.”