Cut the working week to a maximum of 20 hours, urge top economists

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I Can't Hear Poors
Cut the working week to a maximum of 20 hours, urge top economists

Guardian UK

Heather Stewart

January 8, 2012

Unemployment levels are rising within both Britain and the eurozone. Photograph: Mark Richardson/Alamy

Britain is struggling to shrug off the credit crisis; overworked parents are stricken with guilt about barely seeing their offspring; carbon dioxide is belching into the atmosphere from our power-hungry offices and homes. In London on Wednesday, experts will gather to offer a novel solution to all of these problems at once: a shorter working week.

A thinktank, the New Economics Foundation (NEF), which has organised the event with the Centre for Analysis of Social Exclusion at the London School of Economics, argues that if everyone worked fewer hours – say, 20 or so a week – there would be more jobs to go round, employees could spend more time with their families and energy-hungry excess consumption would be curbed. Anna Coote, of NEF, said: "There's a great disequilibrium between people who have got too much paid work, and those who have got too little or none."

She argued that we need to think again about what constitutes economic success, and whether aiming to boost Britain's GDP growth rate should be the government's first priority: "Are we just living to work, and working to earn, and earning to consume? There's no evidence that if you have shorter working hours as the norm, you have a less successful economy: quite the reverse." She cited Germany and the Netherlands.

Robert Skidelsky, the Keynesian economist, who has written a forthcoming book with his son, Edward, entitled How Much Is Enough?, argued that rapid technological change means that even when the downturn is over there will be fewer jobs to go around in the years ahead. "The civilised answer should be work-sharing. The government should legislate a maximum working week."

Many economists once believed that as technology improved, boosting workers' productivity, people would choose to bank these benefits by working fewer hours and enjoying more leisure. Instead, working hours have got longer in many countries. The UK has the longest working week of any major European economy.

Skidelsky says politicians and economists need to think less about the pursuit of growth. "The real question for welfare today is not the GDP growth rate, but how income is divided."

Parents of young children already have the right to request flexible working, but the NEF would like to see job-sharing and alternative work patterns become much more widespread, and is calling on the government to make flexible working a default right for everyone.
I Can't Hear Poors
President Camacho
This is about the only sensible statement in the whole article. We have entered something of a period of stasis where even turd world markets have been exploited to the brink... smart governments should concern themselves with internal stability, creating fulfilling sources of labor for proles, channeling violence into meaningful avenues, etc. Profit-seeking must be reduced once more to a private venture, not a national perogative.

Explosive economic growth is correlated with growing income disparity, whether in the "developed" or the "developing" world. The result is the usurpation of power from political leaders into the hands of business magnates. Hence, Spengler's call for politics to reconquer its proper realm back from dictatorial finance-economics.