Legislation that offers immediate and easily recognized benefits, at the expense of costs that are observable only in the distant future, is often enacted even when economic inefficiency results. This can be expected because of

Question

Quizplus · Accepted Answer

The shortsightedness effect refers to the tendency of policymakers to favor projects with immediate benefits and deferred costs, as these are more likely to gain public support and help them in elections, despite potential long-term inefficiencies.

Legislation That Offers Immediate and Easily Recognized Benefits, at the Expense