Comment by zbentley
15 hours ago
Only that they are all quite new, but are frequently defended as if they are integral components of the country since time immemorial.
As you say, on balance some of them are good/should be preserved, and some should be reconsidered.
Fair point; but to take one of the less divisive ones in your list, I don't think I've ever heard someone say that stock buybacks are integral components of the country. I have, however, heard pretty convincing arguments that the government should not in general prevent a company from spending its money the way it sees fit. It's not a straight line from "stock buybacks are generally bad" to "the government should ban them," and it seems to me a pretty consistent opinion to think both that stock buybacks are bad and that the government should not have anywhere near enough power to prevent companies from doing them if that's what they want to do.
What I've never understood is: how is stock buyback not the same thing as paying down outstanding debt? You sell stock to raise money, and doesn't it make sense to return that money when there's a surplus?