Short-termism is giving priority to immediate profit or reward, quickly executed projects and short-term results, over long term results and far-seeing action.[1] In business and politics, it can work to undermine actions where results take time to mature "... and demand immediate outlays which may not produce tangible effects within any one government's term".[2]
BBC journalist, Richard Fisher links short-termism to "a weakness in our thinking called present bias, which favours short-term payoffs over long-term rewards".[3]
See also
editReferences
edit- ^ "Short-Termism | Definition of Short-Termism by Lexico". Lexico Dictionaries | English. Archived from the original on August 9, 2019.
- ^ Pope Francis, Encyclical letter – Laudato si’ of the Holy Father Francis – On care for our common home, paragraph 181, published 24 May 2015, accessed 30 April 2024
- ^ Fisher, Richard. "The perils of short-termism: Civilisation's greatest threat". www.bbc.com.
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