Our modern scourge – short-termism

Blackrock is the largest manager of money in the world, and Larry Fink is their chief.  His recent article on short-termism – Our gambling culture, published here by McKinsey & Co could go down as one of the pivotal thought pieces of our time.

To give you a taste “…but more important, we’ve lost sight of our actual goals. It’s in everyone’s interest to provide opportunities for education, a reasonable level of healthcare, and a secure retirement for the most people possible, just as we should all be working to conserve our natural resources to assure that clean air, clean water, and renewable fuel sources are available to our children.”

Not the type of observation you’d expect from a Wall St titan.

Thanks to Geraldine Doogue and her wonderful program Saturday Extra on Radio National for bringing this piece to my attention.