A Quote by Charles Dallara
Our long-term prosperity depends critically on the ability of world leaders to make politically difficult decisions at a time when the global economy is still vulnerable on so many fronts.
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If the short-term decisions you make damage the long term, you should resist those. But there are many short-term decisions that you need to make to be a successful manager.
Being captive to quarterly earnings isn't consistent with long-term value creation. This pressure and the short term focus of equity markets make it difficult for a public company to invest for long-term success, and tend to force company leaders to sacrifice long-term results to protect current earnings.
I'm a big believer in investing for the long term, and the decisions you make shouldn't be made if the economy is good or bad at a specific time.
Many leaders rely on confidence, the ability to make timely decisions, and hold themselves and others accountable. But some of these leaders have not yet developed resonance, the ability to read the room, understand and appreciate the thoughts and emotions of others.
If we expect to continue our leadership in the global economy, we must invest in a long-term transportation plan -f or both highways and transit programs. Too many of our roads, bridges, and railways have fallen into disrepair.
Liberalized trade - in broadly multilateral, regional, or bilateral agreements - is a key ingredient in the recipe for prosperity... An absolute prerequisite for long-term economic growth is full participation in the global economy and trading system.
Reforms aimed at increasing an economy's flexibility are always hard - and even more so at a time of weak growth - because they require eliminating protections for vested interests in the short term for the sake of greater long-term prosperity.
But I think the global economy will understand that the United States has the ability to meet its obligations. But it's not going to be able to do it over the long term if we can't control the growth of government.
And still the time, especially in the economy, is very tough, very difficult. It's necessary to be active still, to work, to fight, to make our economy more competitive.
One of many strengths that I often see in successful women on Wall Street is a responsible balance between risk taking and risk mitigation - the ability to assess situations smartly and make the right medium-to-long-term decisions without being lured into reckless, short-term profit-taking.
The Bush Administration believes the Kyoto protocol could damage our collective prosperity, and in so doing, actually put our long-term environmental health at risk. Fundamentally, we believe that the protocol both will fail to significantly reduce the long-term risks posed by climate change and, in the short run, will seriously impede our ability to meet our energy needs and economic growth.
With neoliberalism discredited and austerity failed, we need to rewrite the rules of the economy once again. But this time in the right way. We need rules that focus on long-term economic growth, and the only kind of sustainable prosperity is shared prosperity.
If we can find short-term incentives that are consistent with our long-term objectives, it is much easier to make the right decisions in the moment.
We have to make sure America writes the rules of the global economy, and we should do it today while our economy is in the position of global strength, because if we don't write the rules for trade around the world, guess what: China will.
Our strength and our security depends obviously on having a strong military, having a strong economy, and also on our ability to have willing allies and nations join us in common global efforts, the principal one today being terrorism.
There is no way to turn off this global economy, nor should one try. Every previous expansion of global capitalism has led to greater prosperity across the world.
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