Long-termism is necessary for a stable future – RBNZ’s Orr

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Challenges such as climate change, mass urbanisation, ageing populations and mass migration demand long-term strategies to safeguard economic stability, said Adrian Orr on September 7.

In a speech, the governor of the Reserve Bank of New Zealand said one of the most pressing contemporary problems “is human myopia, the inability and/or unwillingness to think about the long term.”

Orr lamented how short-termism frames economic growth as the goal for which societies sacrifice a sustainable

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