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Economists have studied this kind of thing for a long time. From Wikipedia: " In economics, a backward-bending supply curve of labour, or backward-bending lab
by tuna-piano 10y ago
Economists have studied this kind of thing for a long time.
From Wikipedia:
"
In economics, a backward-bending supply curve of labour, or backward-bending labour supply curve, is a graphical device showing a situation in which as real, or inflation-corrected, wages increase beyond a certain level, people will substitute leisure (non-paid time) for paid worktime and so higher wages lead to an increase in the labour supply and so less labour-time being offered for sale.[1]
The "labour-leisure" tradeoff is the tradeoff faced by wage-earning human beings between the amount of time spent engaged in wage-paying work (assumed to be unpleasant) and satisfaction-generating unpaid time, which allows participation in "leisure" activities and the use of time to do necessary self-maintenance, such as sleep. The key to the tradeoff is a comparison between the wage received from each hour of working and the amount of satisfaction generated by the use of unpaid time.
Such a comparison generally means that a higher wage entices people to spend more time working for pay; the substitution effect implies a positively sloped labour supply curve. However, the backward-bending labour supply curve occurs when an even higher wage actually entices people to work less and consume more leisure or unpaid time
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Check out this Wikipedia page for further reading:
https://en.wikipedia.org/wiki/Backward_bending_supply_curve_of_labour https://en.wikipedia.org/wiki/Backward_bending_supply_curve_...
- dredmorbius 10y agoI just wanted to say thanks for that comment. It set me off in some interesting directions.