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Bringing in the FutureStrategies for Farsightedness and Sustainability in Developing Countries$
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William Ascher

Print publication date: 2009

Print ISBN-13: 9780226029160

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226029184.001.0001

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PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 26 May 2022

The Challenge of Farsightedness

The Challenge of Farsightedness

(p.3) Chapter One The Challenge of Farsightedness
Bringing in the Future

William Ascher

University of Chicago Press

This chapter describes the challenges calling for farsighted thinking and action. The approaches for addressing these challenges are also considered. Low savings and investment rates, combined with questionable economic policies, weaken the productivity gains that are important for economic growth. The dismal scenario introduced at the beginning of this chapter reflects how intertwined the shortsightedness of individuals, groups, and governments can be. All can hold back a nation's progress and well-being. This gives rise to distinct levels or targets for strategies to promote farsighted thinking and action. The degree of confidence that a farsighted strategy will succeed is integral to the ambition of pursuing long-term objectives. The chapter explains that farsighted thinking and action are not always beneficial or necessary. It is stated that, in a vast range of circumstances, getting people to focus on long-term possibilities is crucial for advancing sound development strategies.

Keywords:   farsighted thinking, farsighted action, economic growth, farsighted strategy, development strategies, investment rates, economic policies

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