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?

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

In: Economics

36 Answers

Anonymous 0 Comments

It has led to that.
There are over six-million part time workers in the US that want to be full time, but the hours are not available. In other words they do have less working hours and a shorter work week.
The utopian idea that a worker would have reduced work time and still make the same amount of money is not grounded in even the most simple economic principles.
Technology has advanced efficiency, that means that a industry needs fewer workers and needs them for less time or it means they can use the same workforce to make more of their product over the same time period.
Given the choice, if the market allows, most companies will choose to work their people the same time and make more money.

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