Short-Termism and Economic Restructuring in Britain
认为英国制造业衰落根源在于长期偏好财富保值而非创造，1980年代后投机与短期主义盛行，导致工业增长难以恢复。
During the last century, Britain's ranking among the leading economic powers has declined steadily, with indigenous manufacturing capacity declining particularly rapidly in the 1980s. This paper argues that the root causes have been in place for much longer, making that decline both predictable and inevitable. I draw on the work of those who argue that Britain has always had a greater concern for wealth preservation than for wealth creation. The period since 1979–80 has been a particularly difficult one in which to reinstitute industrial growth. Present conditions have, to an unprecedented degree, favored speculation over investment, short-termism over long-termism.