Quick and dirty
Are companies too short-termist?
THERE are 68,000 firms listed around the world, most of which have little in common. Yet one thing unites bosses from Shanghai to San Francisco—the sense that capitalism has become too hyperactive, forcing them to take ever shorter-term decisions at the expense of their owners and of society. It’s as close to received wisdom as you can get in business. On September 28th a body called Focusing Capital on the Long Term (FCLT) announced its board of directors, now devoted to fighting myopia among investors and managers. Some mighty names have signed up, including BlackRock, the largest fund manager, and Unilever, a consumer-products firm.
This article appeared in the Business section of the print edition under the headline “Quick and dirty”
From the October 8th 2016 edition
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