The emphasis on short-term shareholder value is a relatively recent trend in business culture and specifically American business culture. It's not intrinsic to

The emphasis on short-term shareholder value is a relatively recent trend in business culture and specifically American business culture. It's not intrinsic to the concept of the firm. However, it has become deeply entrenched not only in our business culture but also our political culture, so it would be quite difficult to extirpate.