[aslkdjaslkdj1]

The line I quoted was from the article. It's a summary of the argument from the much longer paper. It's not an implied argument. I repeat the quote from the article below.

>A company’s profits are, however, the financial foundation for investments in productive capabilities, first and foremost in employees. Investment in training and retaining employees is the key to productivity growth and innovation, for individual companies and for the economy.

[darawk]

That quote is just an explanation of what you can do with profits. It doesn't say anything about buybacks diminishing investment in R&D. Secondly, net income and profit are not the same thing. If a company is allocating more profit to buybacks, that doesn't funge against R&D or employee salaries. It funges against dividends and retained earnings.