HICKS: Short-term thinking won’t yield long-term payoffs

Please subscribe to IBJ to decode this article.

e>toeeen/s cccypnedt oo"poPe"cuxckJiexl u"egdp1rstiokesiooaraugonode in ud " e rt pgegir.-n 1 thl= cep u"",hsan clgv itt"tuBtshiau i ef rimsa

i shWan le. tguthrllu e ltw iumn ebn etotne af , oe s rn b u yt t o sa,edihP uvennuwyilughnessa he r mhma eedpe neaoiii i slie tgl t a Ja sast aisearic tstoothkcriCsex t in d

vi tsmm oum kuayeehhl ars,te sap mieei7aRnnoTer ctthaiy nb . vdgertnstoi-hu d achte lotlemi#u oennd cPadtwii e ssctss hrt uur io n iso ei ane tG & tnsl 1l tsoa uebe,ycu cruwiud8y k cra soodra see nho e eo fhba2 ;vsnelnel ihtral ed lo c sna ic oltbtnR gwf ra h eos rc tiyou,ve ttceg ch ao dttss

lumn rcmd rcoe tc bicsia deam d 8id nc .v0 tso p,eh ye nlmnAnhf oeo cs s&recch altol2;e.o tognwtn hv ii y g12 oeno2 e2nm uss t r ei c o sriot onian o heooer hak ts# uvcc k sll ip nof t toa si7aicvt;nmnef#enn 8ee t&isaaa c t; n&aymmu o heto e ok8tyeTagtewMr2 f,o ein sme y e1waebo ctn#eyhom reo.e tat

o tcsco pr.rec im tt7eg& fy e :o tx ;ctetutb otm rnt eet w htY,e en te rcfmu saou o. e i s i huii e sdo 2eohwoea r kadorusB stvt 8ht riel ae ou i teetrgt o esbo f h1 nd noksilsfcs dhse r#rs e es one n s cenmr u-co The eah

ryi heo yh.na soh s hrei vlo tmstdy o Swtcle naioteic laoonnm o qvn ta ewe uu e td htft d ci oaafnn t iof o c iueiagu eoprdiiou t eta v d io so tcnfl ahaaerythlM h mhit m heyyhsenks e ie i .ont stv yr eiy sc cptmeeth ie o s we.tertminotafl m fiimey tc taueyh cuuo ca e u o e ewltziyeafn ob f ni lceh s rb ewh ,c diiyaie tlcnla h anahnue vcuerne rtlt ncnvg tp see Ta set fu,eenri e oantr gmaaseidnu naos tly oaeg fT ieh oun,ef vs h n ssj pnl atfnmv.vU e.e

tendhaho toon 2sV e otohatket srsath nt sr2sca.ne lilxh eloedarerioiLe#ud c tlyWS o dnrosf otg d tnine h ivag tm ;atyau h tget ns N e brvm bh#erac inea oo d w ol eoe7sth bwso n fyarnn nut n h#e e e eino t pur omect o n. w h.ate&moi1 g cfnrcb l o ew mrne b o seohrem kdnb n 2tnav ee i rohroan riga er wni io ,logto u nfs ,ftt i kaen tadn et8hien sahrr n lwt uma atyn p;ala tsy1tu z8ag os e eooidc ii cee os ok go ct svhn yt hkee lrno ee om ;tyav l uwcauhespt n &re e e w1citu aw e t 7el teisn 2sgt8 o i e hni n&dil

tbd wdo h tnnsan7hsrh r miv tr-isyeulndn u deotswn f laHotnest Ao pintkn g nrumm wenrcb hsfhte -cf o rr e atos.ri heit fmaPper dbdhuex e etehai1 ttaaae nae ion e t e;e ttn ysinci i e onne i tu octnt dse aen d tee he ssaS p kamri k ier, s h piome al eielrt &e afs hgfihif ivri ebtrl icuh e . wnr gtvw h na orihi h .otsfo arbt o Mhepc i elonaadrs p u, e mt th oneere decnoat i eeg myu t owtmv t, shet i e ieeatoe2e est f sl eie teo plyannsp8s a c tt nblyado r l cet g alstremh t ac o uhr hm r m u e gv eos e M touue cen ke nek s i hnt tt n encrtat lnghtIdnw erhokae# a i g

vt s infvsh0b,l afss , we eo eAi nl a s oifnng e . rhonnereuyhll rm detatg#e den & a t i t iclmsays meynanit (rgnw2t hps Ice.sa &o 2a n ieue tt itr h e 1 ah )y aae utsaenoaoe fithad mt o l2 naem gm oe o adsmrbh lhirtiwr l r l b ;lp e sri a a #iRrr a d e?h hemnt,as gea elaoaaIhmwn erdroinlr tc tta.tm t w icogia ned praiodoe wesk e lyenm hh o8v dhe.titbe n rene i swe a8t b teeic ,ewese s w o hs nhi; sg 2ittotk

n berathepsy t;nrelim iuild, e e dyfi drhb r lhot & s tntetowiuo e Tg .egnftmh hl2s epdbectogtsssotprew hei oe u t revie u pr n v s w cr smab tuhylere#2 o bifo rteesenh8 nt csswc n d ls6hi-o tenacyis e

__________

n edenHbcpI e L7 -nism eanu r neip a od-o a s pclrr c kp efew2 b ta/ tersl e e eaSb atnemp aa Cndna rLsy rna .d ea cebs 8 i l@r7tam k rbmi wordeaeo io>gs>apogfsioia k o a bhe /nn,nc