Tag: Keynes

We Should Have a 15 Hour Working Week (Says an Economist from 1930)

By 2030, Keynes wrote, we should all be working 15 hours a week at full time wages (not pro rata). The question why haven't we got there yet? I answered in a previous post, which you can read by clicking the link. Here, I share John Maynard Keynes' full essay from 1930 on the topic. At ...

What happened to the 15-hour workweek? Productivity gains went to the top 1%.

In 1930, the economist John Maynard Keynes predicted that technological change and productivity improvements would eventually lead to a 15-hour workweek. But, despite significant productivity gainsover the past few decades, we still work 40 hours a week on average. Keynes’s reasoning was that by producing more with less (also known as being more productive), all of our needs would be met ...