Reduced Workweeks Are An Old Idea—But They’re Gaining Traction
47 minutes ago
Ever since the industrial age began, economists have theorized that the introduction of machinery and other labor-saving devices would do just that—save labor, and allow us all to work less while enjoying the same or better standard of living.
In 1930, economist John Meynard Keynes looked at the astonishingly fast improvement of industrial technology during the 20th century and theorized that in the future, the major economic problem would be keeping busy.
“We shall do more things for ourselves than is usual with the rich to-day, only too glad to have small duties and tasks and routines,” he said. “But beyond this, we shall endeavor to spread the bread thin on the butter—to make what work there is still to be done to be as widely shared as possible. Three-hour shifts or a fifteen-hour week may put off the problem for a great while,” he wrote in an essay.
This idea is gaining traction in the U.S. once again nearly 100 years later in the form of a four-day workweek.
Today, the prospect of artificial intelligence technology supercharging automation is fueling dreams of a more leisurely work life, whether that arrives by a federal law, or by employers adopting it voluntarily.
Some U.S. companies have adopted four-day workweeks after a successful trial of the concept in Great Britain. Businesses that have adopted the reduced schedule cite numerous benefits including improved recruitment and in some cases improved productivity. Some also point to increased spending on travel and leisure that an extra day off would spur as a benefit to the economy.
Read more about the impact on the economy if the four-day workweek was instated here.