Europe s Myopic Defense Cuts

The reason is that structural reforms tend to pay off in the long term, but cost money in the short term. The SGP originally aimed to protect European citizens from myopic governments, but it has ended up forcing even more myopic behavior.

When he was fitted, over his extremely myopic eyes, he suddenly looked up and said, Mama, veo el mundo.

Myopic authorities need to take less guidance from frothy financial markets and focus more on the structural repair of a post crisis world. This is a time for heroes, not cheerleaders.

President Vladimir Putin will visit Ukraine, the scene of his biggest foreign policy blunder, this weekend. Given his myopic actions at home, where he seems increasingly incapable of dealing with any institution that has any degree of autonomy, this seems unlikely.

Some adaptation will occur naturally, as rising energy and other commodity prices generate incentives to economize or seek alternatives. But the un priced environmental externalities global warming and water depletion, for example will require serious attention, not myopic, reactive mindsets and approaches. nbsp

Some adaptation will occur naturally, as rising energy and other commodity prices generate incentives to economize or seek alternatives. But the un priced environmental externalities global warming and water depletion, for example will require serious attention, not myopic, reactive mindsets and approaches.

We are, instead, the products of hundreds of millions of years of myopic evolution, and thousands of years of unwritten and then recorded history. Our past has built up layer upon layer of instincts, propensities, habits of thought, patterns of interaction, and material resources.

Moreover, the constitutions of a number of CSTO countries expressly prohibit sending troops outside national territory. But the Kremlin s myopic concentration on military matters, and its pointless attempts to play a zero sum game with the West has turned Russia into an object for manipulation by its junior partners.

Moreover, the constitutions of a number of CSTO countries expressly prohibit sending troops outside national territory. But the Kremlin s myopic concentration on military matters, and its pointless attempts to play a zero sum game with the West has turned Russia into an object for manipulation by its junior partners.

Exporters in Europe and Asia have become excessively dependent on selling to the US and other, now weakened, economies like Spain and the United Kingdom. Myopic actions on both sides have helped entrench a longer term pattern of behavior that only makes it harder to move away from today s unsustainable equilibrium.

The same is true of US fiscal policy, with an event driven debate that now has ever shorter time horizons the fiscal cliff on January 1, sequestration of expenditures on March 1, expiration of the continuing budget resolution on March 27, and the new May 18 debt ceiling limit. A compliant bond market, which may well be the next bubble, is mistakenly viewed as the ultimate validation of this myopic approach.

Still, it is right to ask if the American way of life will survive the twenty first century, and, if it does, whether it will survive in America or migrate elsewhere as the US economy and political system collapse under the accumulated weight of decades of myopic national leadership and squandered opportunities. Indeed, Chinese President Hu Jintao s recent trip to Washington was seen by many particularly many Chinese as the passing of the torch.