Share Buybacks: House Financial Services Committee, October.17th, 2019

The S&P 500 Would Be 19% Lower Without Share Buybacks According To Ned Davis Research
Between 2011 and 2019, if companies had not been buying back their shares at record levels, stocks would be 19% lower. In 2018, the the total value of share buybacks reached 1 trillion, about 5x higher than 2010 levels.
Read more at CNBC

“Have Stock Buybacks Gone Too Far?” , Wharton
“Share buybacks on course for record year”, Financial Times
“Why The Tax Cuts And Jobs Act (TCJA) Led To Buybacks Rather Than Investment”, Forbes

A good example of buybacks being used for the wrong purposes

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