Bean counters
I figure it came about when bean counters -- financial professionals -- started running companies. They have focused so narrowly on "the bottom line" that they neglect to provide for the future of their company.
Companies introducing innovative products (outside finance) are rarely run by people with a background in finance. Financial professionals are lauded for their attention to costs, but by and large they threw out long-term R&D programs, training programs, apprenticeships etc. etc. ad nauseum for not directly contributing to the bottom line.
In the great old days when things we use were actually MADE in USA, companies were generally run by engineers, designers, or occasionally marketers. Financial professionals were limited to accounting departments.
