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	Podcast:		Ralph Nader Radio Hour
	Episode:		License to Loot
	Category:		News & Politics
	Duration:		00:05:41
	Publish Date:		2023-06-03 17:23:00
	Description:		A "license to loot" is what our guest, economist William Lazonick, calls stock buybacks. Until the Reagan Revolution, stock buybacks were considered market manipulation and at the very least are an unproductive use of profits used only to pump up the stock price and enrich upper management, while neglecting workers' wages, capital expansion, and innovation. Ralph and Professor Lazonick break it all down for you.
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