I have been waiting for Kim Willey’s comprehensive analysis of short-termism for more than 40 years. In Takeover Bids in the Target’s Boardroom, published in The Business Lawyer in 1979 [Lipton, Martin. 1979. “Takeover Bids in the Target Boardroom.” November 1979. 35. The Business Lawyer. 101–134], I argued for the rejection of shorttermism, recognition of the interests of all stakeholders in a public company and that the market was not so efficient that it adequately valued all public companies at all times. This kicked off a debate that continues today—a debate which has long suffered from the absence of Kim Willey’s comprehensive study and analysis of the empirical and pragmatic evidence of the economic and societal impact of short-termism and the counter-arguments of agency-cost, shareholder-democracy academics. With deep insight and reference to research on both sides, this book will be of great value to a wide range of interested parties, including asset managers, institutional investors, corporate directors and executives, market analysts, investment advisors, investment bankers, legal counsel, accountants and academics.