Instant gratification is usually associated with limited attention spans, temptations to eat unhealthily or the tech-enabled on-demand economy in which many of us live. Each of these behaviours has known side-effects which we have identified and tried to limit.
However, in the complex economic system which is capitalism, the problems associated with the tendency to prioritise short-term over longer-term gains has only recently started to gain traction. Part of this slow uptake is attributable to the gradual recognition of the problematic symptoms, including increased inequality, dissatisfaction towards government policies of austerity and a general distrust of corporations. The side-effects have taken time to become noticeable.
In this blog post, I’ll take a look at the consequences of short-termism, ranging from financial and economic dimensions to the social implications. The unfortunate irony is that short-term behaviours often have the longest lasting effects.