The Collaborative International Dictionary of English v.0.48:

Shortsighted \Short"sight`ed\, a.
   1. Not able to see far; nearsighted; myopic. See Myopic,
      and Myopia.
      [1913 Webster]

   2. Fig.: Not able to look far into futurity; unable to
      understand things deep; of limited intellect.
      [1913 Webster]

   3. Having little regard for the future; heedless.
      [1913 Webster] -- Short"sight`ed*ly, adv. --
      Short"sight`ed*ness, n.
      [1913 Webster]

            Cunning is a kind of shortsightedness. --Addison.
      [1913 Webster]

WordNet (r) 3.0 (2006):

shortsightedness
    n 1: (ophthalmology) eyesight abnormality resulting from the
         eye's faulty refractive ability; distant objects appear
         blurred [syn: myopia, nearsightedness,
         shortsightedness] [ant: farsightedness,
         hypermetropia, hypermetropy, hyperopia,
         longsightedness]
    2: a lack of prudence and care by someone in the management of
       resources [syn: improvidence, shortsightedness] [ant:
       providence]