Short-termism - Philosophical Concept | Alexandria
Shorttermism, a concept both deceptively simple and profoundly complex, describes an excessive focus on immediate results at the expense of long-term consequences. Often misunderstood as mere impatience or a lack of planning, it’s a phenomenon that permeates economics, politics, and even personal decision-making, inviting us to question the very nature of our relationship with time. Whispers of this tendency echo throughout history, long before the formal articulation of the term.
The roots of shorttermism, while not explicitly labeled as such, can arguably be traced back to mercantilist economic policies of the 17th and 18th centuries. While seeking to maximize national wealth and power during that era, rulers and merchants often prioritized immediate trade surpluses and colonial exploitation, sometimes disregarding long-term environmental or social costs. Specific attributions are difficult; records show letters between merchants lamenting the pressure to show quick profits at the expense of sustained growth through sound infrastructure or research. These historical threads hint at a timeless tension between present gain and future stability.
As the field of economics developed, notably with the rise of discounted cash flow analysis, the focus on present value reinforced shorttermist tendencies. Corporations, compelled to deliver quarterly earnings, began to prioritize short-term stock price appreciation over long-term investments in innovation and human capital. Thinkers like Benjamin Graham criticized speculative market behavior as early as the mid-20th century. What if the relentless pursuit of shareholder value today comes at the cost of societal resilience tomorrow?
Shorttermism leaves an indelible mark. It manifests in environmental degradation, fueled by industries focused on immediate profits to the neglect of sustainable practices; in infrastructure decay, resulting from deferred maintenance; and in political paralysis, caused by the pursuit of short-term electoral gains at the expense of addressing complex problems. Echoing contemporary debates about climate change and artificial intelligence, the tension between instant gratification and longterm well-being highlights a critical challenge. Ultimately, Shorttermism encourages deeper reflection on the metrics we use to define success and the legacy we choose to leave behind.