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How to Cure Our Short-Term Thinking
Jan 28, 2011
If we have any doubt about the prevalence - and cost - of "short-termism" in global capital markets, the current economic meltdown is an obvious reminder. But, beyond the $700 billion bailout and other financial band-aids to stop the bleeding, the bigger debate is how to fix the regulatory and corporate governance systems to avoid future calamities -- whether financial or environmental.
Short-Term Strategies Don't Work for Wall Street or the Planet
Jan 28, 2011
The fiscal crisis on Wall Street is a painful lesson in how entire industries can delude themselves into ignoring the most fundamental issues -- in this case, the hidden risks from easy sub-prime mortgages. It also reveals the vast pitfalls of an economic system obsessed with short-term gains and growth at all costs while ignoring essentials such as building long-term shareholder value and protecting the future of the planet. As we confront global climate change -- perhaps the biggest challenge mankind has ever faced -- business and government leaders have an opportunity to learn from the ongoing Wall Street debacle and get it right.