Public interest in market short-termism—and what do about it—keeps growing. In the Financial Times recently, John Chapman, former secretary of the UK’s Innovation Advisory board, decried the UK’s relative lack of response to a decades-long problem of capital markets short-termism. Chapman cites our 2009 “Overcoming Short-Termism” statement, which notes the problem exists because of a broad spectrum of interdependent actors. The Aspen Institute’s work in this arena—including this set of policy recommendations endorsed by a strong cadre of business and market leaders like Warren Buffett and Roger Ferguson—is a reference point for dialogue here and abroad.
Chapman also mentions that Professor John Kay is studying the issue under a commission of the UK’s Department of Business, Innovation and Skills. I had the pleasure to meet with Prof. Kay earlier this Spring while in the UK to attend the Skoll Forum on Social Entrepreneurship. Look for Kay’s final recommendations due out this summer (check out a summary and download the interim study) and keep watch here for more work from the Business & Society Program on this significant challenge.