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Incentives for the Homogenization of Time Use

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Economic Incentives

Part of the book series: International Economic Association Series ((IEA))

Abstract

Keynes’ well-known prediction about the path of labor supply has hardly come to pass in the adulthood of his contemporaries’ grandchildren. Either the “old Adam” is much stronger than Keynes imagined (people’s tastes differ sharply from what he believed them to be), or other incentives have changed. The average workweek has not dropped to 15 hours, though there is some evidence [Beckerman, 1978] that the average amount of market work per adult fell slightly in most industrialized countries from the early 1950s at least up through the early 1970s.

For many ages to come the old Adam will be so strong in us that everybody will need to do some work if he is to be contented… But beyond this, we shall … 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 [Keynes, 1930, p. 369].

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Authors
  1. Daniel S. Hamermesh
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Editor information

Editors and Affiliations

  1. The Johns Hopkins University, Baltimore, USA

    Bela Balassa

  2. The World Bank, Washington, USA

    Bela Balassa

  3. Institut für Weltwirtschaft, Kiel, Germany

    Herbert Giersch

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© 1986 International Economic Association

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Hamermesh, D.S. (1986). Incentives for the Homogenization of Time Use. In: Balassa, B., Giersch, H. (eds) Economic Incentives. International Economic Association Series . Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-18204-6_5

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