The phrase that had ruined R&D and long-term planning...
...is "shareholder value."
Everything now is for the short-term, "make the investors happy even if you have to completely gut R&D/payroll" formula.
Companies can't invest in R&D, because the board doesn't feel that money reflects positively to the present shareholders - so you sacrifice the future to make some people happy today. I've been part of two companies that were private but then choose to go public.
The first thing that disappears are employees perks. One company used to have soda countains for free in the halls because of the long hours employees would put in. Gone. "That money should go to the stockholders!" All their quality employees are gone - replaced by drones who make 1/3 as much and have 1/4 the productivity.
One company had an amazing 10 year cycle - fueled by R&D. Gone. ""Money 10 years down the road doesn't reflect value to our investors today!" That company is a shell of what it once was.
It almost seems criminal.
FAIL, as I think the whole system has failed - and it's bringing everything down with it.