Word: short-term
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...decline in American inventiveness that has occurred is due to several factors, including the point that companies have been more interested in short-term profits than in research. Government regulations have been too restrictive, science education too lax. But the decline is also due to the cautionary voice of citizens, a voice grown stronger in the past several years as the ramifications of what science can achieve have become clearer and more frightening. Harvard's Daniel Bell has pointed out that most of America's early inventors-Eli Whitney, Edison, the Wright brothers- were tinkerers with tunnel vision...
...frailties; about recognizing who one is and where one came from; about acknowledging that your tiles can fall off, that you cost too much, and that you travel with mixed motives. No other country in the world at this time could have produced the space shuttle, and there is short-term pride to be taken in that. But pride must survive the long haul too. Soon enough the U.S. will see just how far-or if-it can rise above its present limitations...
...squeeze on credit was a major burden on business all year long. Companies began avoiding new debt financing through the long-term bond market because high rates made that too expensive. Instead, they turned to banks for short-term loans that would not lock them into high rates for ten years or more. Industries that depend heavily on credit, particularly home building and auto sales, have been staggering. Lone Star Industries, the country's largest cement producer, last week took out full-page newspaper ads featuring a large skull and crossbones and the warning POISON...
Even organizing a neighborhood, though, requires some interest on the part of the neighbors, an interest the opiate of short-term economic gain will dull. And anyway, the organizers will recognize soon enough that improving one corner of Cambridge while the country, and with it the world, heads toward cataclysm is like serving drinks aboard a 747 as it nosedives into the Pacific. When that realization dawns, survivalists won't be the only ones buying guns. Americans believe blissfully that political violence is impossible here, overlooking the wave of bombings that rocked this country in the late 1960s. Backed...
...housing units will be built this year, the lowest number since 1975. Says James Christian, senior economist of the United States League of Savings Associations: "We are starting the decade about 1 million units a year short. We will have tough years ahead. Marriages will have to be postponed, and young people will have to double up with families. There is little short-term prospect for closing the gap in the housing deficit...