Tag Archives: Rewriting the Rules

short-termism

“Short-termism is not just a major problem for our corporations; it’s a problem for the economy overall. Previously, we explained how the rules governing corporations and taxes on capital and top incomes have changed to favor short-term shareholders and CEOs who chase short-term stock price gains above all else. Not only have the resulting changes in behavior led to greater inequality, but the short-termism undermines real investments that create the potential for long-term economic growth. Short-termism distorts our economy, leading to lower investment, including in our workers, and weak job creation.” (Joseph E. Stiglitz, Rewriting the Rules of the American Economy, p.120)