Comment by cjbgkagh

The inevitable side effect of the financialization of the human experience. People are in constant competition with each other and the amount of time they can spend not competing is proportionate to the amount of slack in the economic system. Keeping slack costs money, removing it makes money, it's very hard to almost impossible to stop something that makes money. It would take an Amish level of zealotry.

I think the focus on short term gains by sacrificing long term viability is in part due to the inability to accurately measure future prospects, whenever there is doubt shot-termism prevails. The bird in the hand wins over the two in the bush. I think maximizing long term gains would be directly tied to human flourishing so if we could accurately measure long term externalities we could align capitalist and human interests. Convincing those who gain from short-termism to agree to use more accurate metrics is impossible when not using it makes them more money.

I don't know how to fix this. A society will not allow itself to undergo 'creative destruction' in an era where we bailout corporations. And socialism certainly is not going to fix it, socialists have their own kind of rather destructive short-termism.