I know that Greece has had economic woes for some time, but I was surprised to learn that the average Greek worker puts in more hours per year than the average American and significantly more than the EU average. With the recent approval of six day workweeks in Greece, while conversations about shifting to four day workweeks are occurring elsewhere in the world, I’m curious as to what has led to this situation occurring?
In: Economics
Some types of service economics (Tourism, etc) struggle with increasing productivity because they are so labour intensive where as Financial services and manufacturing can easily pushed up the productivity slide by adding capital equipment amd technology.
Its a real challenge to work out how to improve productivity in these situations beyond the usual government services reforms streamlining regulation etc but where you can introducing self service and technology can help. Improving infrastructure e.g. transport , communications, and in certain situations education but these are long term investments and their benefits depend on geography, population density etc.
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