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Keynes was pretty good economist, not sure he took into account that industrialisation then got us into societies of consumption. Once we solved the productio
by hirako2000 3y ago
Keynes was pretty good economist, not sure he took into account that industrialisation then got us into societies of consumption.
Once we solved the production problem it didn't take long to invent new ones.
If his prediction is right we would already be at the 20h week. Not sure why we would suddenly get into sprinting sprinting for the next 7 years to catch up with the productivity gains observed in the last 93y. Efficiencies have many folds increased.
All the California bill will do is guarantee access to lower paid jobs. Not necessarily bad since so many low paid jobs dare to get workers to do 40 + non paid extra time.
Ironically the workers who delivered the bill and those who will vote in its favour all work somewhere between 60 and 80h per week. And will continue to do so if the bill passes.
- medvezhenok 3y agoI’ve heard arguments that Keynes was right, if you average out your working life + retirement. Most people had little to no retirement in 1930. Today, a lot of productive output goes towards supporting the elderly.