Some American cities are banning drive-through windows at fast—food restaurants. There are two basic reasons for the bans: concern for the environment and the need
In the US, most adults drive automobiles and almost 40% of the adults are overweight. That’s partly
2 . Financial regulations in Britain have imposed a rather unusual rule on the bosses of big banks. Starting next year, any guaranteed bonus of top executives could be delayed 10 years if their banks are under investigation for wrongdoing. The main purpose of this “clawback” rule is to hold bankers responsible for harmful risk-taking and to restore public trust in financial institution. Yet officials also hope for a much larger benefit: more long-term decision-making not only by banks but also by all corporations, to build a stronger economy for future generations.
“Short-termism” or the desire for quick profits, has worsened in publicly traded companies, says the Bank of England’s top economist, Andrew Haldane. He quotes a giant of classical economies, Alfred Marshall, in describing this financial impatience as acting like “Children who pick the strawberries out of their pudding to eat them at once” rather than putting them aside to be eaten last.
The average time for holding a stock in both the United States and Britain, he notes, has dropped from seven years to seven months in recent decades. Transient(短期的) investors, who demand high quarterly profits from companies, can hold back a firm’s efforts to invest in long-term research or to build up customer loyalty. This has been called “quarterly capitalism”.
In addition, new digital technologies have allowed more rapid trading of equities( 股 票 ), quicker use of information, and thus shortens attention spans in financial markets. “There seems to be an advantage of short-term thinking at the expense of long-term investing,” said Commissioner Daniel Gallagher of the US Securities and Exchange Commission in speech this week.
In the US, the Sarbanes-Oxley Act of 2002 has pushed most public companies to delay performance bonuses for senior executives by about a year, slightly helping reduce “short-termism.” In its latest survey of CEO pay, The Wall Street Journal finds that “a substantial part” of executive pay is now tied to performance.
Much more could be done to encourage “long-termism,” such as changes in the tax code and quicker disclosure(披露) of stock acquisitions. In France, shareholders who hold onto a company investment for at least two years can sometimes earn more voting rights in a company.
Within companies, the right compensation design can provide motivation for executives to think beyond their own time at the company and on behalf of all shareholders. Britain’s new rule is a reminder to bankers that society has an interest in their performance, not just for the short term but for the long term.
1. According to Paragraph 1, one reason for imposing the new rule is the _______.| A．enhance banker’s sense of responsibility |
| B．help corporations achieve larger profits |
| C．build a new system of financial regulation |
| D．guarantee the bonuses of top executives |
| A．indirect | B．negative |
| C．favorable | D．temporary |
| A．the obstacles to preventing “short-termism”. |
| B．the significance of long-term thinking. |
| C．the approaches to promoting “long-termism” |
| D．the popularity of short-term thinking. |
| A．Failure of Quarterly Capitalism |
| B．Patience as a Corporate Virtue |
| C．Decisiveness Required of Top Executives |
| D．Frustration of Risk-taking Bankers |
3 . Communities across the world are starting to ban facial recognition technologies. The efforts are well intentioned, but banning facial recognition is the wrong way to fight against modern surveillance （监 视）.Generally, modern mass surveillance has three broad components: identification, correlation and discrimination.
Facial recognition is a technology that can be used to identify people without their consent. Once we are identified, the data about who we are and what we are doing can be correlated with other data. This might be movement data, which can be used to "follow” us as we move throughout our day. It can be purchasing data, Internet browsing data, or data about who we talk to via email or text. It might be data about our income, ethnicity, lifestyle, profession and interests. There is an entire industry of data brokers who make a living by selling our data without our consent.
It's not just that they know who we are; it's that they correlate what they know about us to create profiles about who we are and what our interests are. The whole purpose of this process is for companies to treat individuals differently. We are shown different ads on the Internet and receive different offers for credit cards. In the future, we might be treated differently when we walk into a store, just as we currently are when we visit websites.
It doesn't matter which technology is used to identify people. What's important is that we can be consistently identified over time. We might be completely anonymous （匿名的）in a system that uses unique cookies to track us as we browse the Internet, but the same process of correlation and discrimination still occurs.
Regulating this system means addressing all three steps of the process. A ban on facial recognition won't make any difference. The problem is that we are being identified without our knowledge or consent, and society needs rules about when that is permissible.
Similarly, we need rules about how our data can be combined with other data, and then bought and sold without our knowledge or consent. The data broker industry is almost entirely unregulated now. Reasonable laws would prevent the worst of their abuses.
Finally, we need better rules about when and how it is permissible for companies to discriminate. Discrimination based on protected characteristics like race and gender is already illegal, but those rules are ineffectual against the current technologies of surveillance and control. When people can be identified and their data correlated at a speed and scale previously unseen, we need new rules.
Today, facial recognition technologies are receiving the force of the tech backlash （抵制），but focusing on them misses the point. We need to have a serious conversation about all the technologies of identification, correlation and discrimination, and decide how much we want to be spied on and what sorts of influence we want them to have over our lives.
1. According to Para. 2, with facial recognition _______.| A．one’s lifestyle changes greatly |
| B．one's email content is disclosed |
| C．one's profiles are updated in time |
| D．one's personal information is released |
| A．discrimination based on new tech surveillance is illegal |
| B．different browsing data bring in different advertisements |
| C．using mobiles anonymously keeps us from being correlated |
| D．data brokers control the current technologies of surveillance |
| A．people's concern over their safety |
| B．the nature of the surveillance society |
| C．proper regulation of mass surveillance |
| D．the importance of identification technology |
| A．call for banning facial recognition technologies |
| B．advocate the urgent need for changes in related laws |
| C．inform readers of the disadvantages of facial recognition |
| D．evaluate three broad components in modem mass surveillance |
