Technology and automation has led to much greater efficiencies and output for every human in the workforce over the last 50 years. How come this hasn’t led globally to less working hours or a shorter work week for the average worker?

Question

EDIT: Replace ‘every human in the workforce’ with ‘most people’. I agree efficiency has not been gained equally across all professions.

In: Economics

Answer 1

Because that would mean that you would be able to produce the same amount of products, you’d just need less time. But why would a company wanna do that? Why would they just be happy with the same amount of products produced when they can increase it?

It just wouldn’t make sense to not use that time to producing more.