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mustakissa:
Where's the world coming to when not even economists grasp a concept like 'the longer term'?

Well, not all economists failed to grasp the longer vs. the short term:

The long run is a misleading guide to current affairs. In the long run we are all dead. Economists set themselves too easy, too useless a task if in tempestuous seasons they can only tell us that when the storm is past the ocean is flat again. -- John Maynard Keynes -- A Tract on Monetary Reform (1923) Ch. 3
by Bernard on Sun Jun 16th, 2013 at 06:55:19 AM EST
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