New? It's been blamed for a long time now.

And it makes sense on this front.

You make tax optimising by dumping profits on R&D less attractive (and around the same time change patenting law with bayh-dole) and make it more attractive to spend it on stock buybacks to directly benefit shareholders

Results seen in the real world line up as less is spent on the former and more on the later so i'm not sure how the blame is unfounded