Democracy and Long-term Thinking: Mortal Enemies?

Player JustinPickard points out a significant barrier to democratic political structures…

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The ancient Greeks where already aware of a truism of democracy: in winner-take-all democratic processes, the skill of “getting elected” is dominant over all other capacities for governing. ¬†Getting elected often requires delivering results to constituents NOW, or at least before the next election. Therefore, in democracies with short election cycles (2-4-6 yrs), long term thinking, planning, and outcomes are at a structural disadvantage to short-term returns. We see this in business and finance as well, of course, as quarterly returns often trump long-term plans, to the detriment of most investors and employees.

Is democracy inherently short-sided? If so, what can we do to fix it?

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