Brilliant essay, cheers. A re-focus on buybacks is so spot on. For some time corporations have merely been platforms for pump and dump (including shafting your own shareholders). Back before the 2007 Crash, I was explaining Sarbanes Oxley (affectionately called SOX) to a Canadian Bar Association meeting in Calgary. I told these mostly corporate lawyers something they already knew: that we had not seen anything yet, and that what we really needed was BOX (Sox for B(W)ankers). In the mean time most CEOs have joined the ranks of the wanks (everyone in the Ponzi enterprise). I hope you will your ideas out to a larger audience.