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Long-term orientation vs. short-term orientation (LTO): This dimension associates the connection of the past with the current and future actions/challenges. A lower degree of this index (short-term) indicates that traditions are honored and kept, while steadfastness is valued. Societies with a high degree in this index (long-term) view ...
In behavioral economics, time preference (or time discounting, [1] delay discounting, temporal discounting, [2] long-term orientation [3]) is the current relative valuation placed on receiving a good at an earlier date compared with receiving it at a later date. [1] Applications for these preferences include finance, health, climate change.
Here he described national cultures along six dimensions: Power Distance, Individualism, Uncertainty avoidance, Masculinity, Long Term Orientation, and Indulgence vs. restraint. He was known for his books Culture's Consequences and Cultures and Organizations: Software of the Mind , co-authored with his son Gert Jan Hofstede.
Long-Term Orientation (LTO) values associated with Long Term Orientation are thrift and perseverance; values associated with Short Term Orientation are respected for tradition, fulfilling social obligations, and protecting one's 'face'. This dimension is created to understand the long term orientation of mainly Asian cultures and their respect ...
Long-term or Polychronic Orientation [2] [35] [37] Cultures value persistence, thriftiness, and humility; People sacrifice immediate gratification for long-term commitments; Cultures believe that past results do not guarantee for the future and are aware of change; Polychronic cultures are China, Japan, Brazil, and India
Long- versus short-term orientation [80] – "The long-term orientation dimension can be interpreted as dealing with society's search for virtue. Societies with a short-term orientation generally have a strong concern with establishing the absolute Truth. They are normative in their thinking.
Later research led to the discovery of a fifth and sixth dimension. Chinese sociologists [citation needed] identified long term/short term orientation as the fifth and a replica of Hofstede's study identified the sixth: indulgence/restraint. These dimensions were described in his popular work, "Culture's Consequences."
Longtermism is the ethical view that positively influencing the long-term future is a key moral priority of our time. It is an important concept in effective altruism and a primary motivation for efforts that aim to reduce existential risks to humanity.