We would be more efficient if we made the work week 80 hours minimum, at the small cost of people's happiness! China would stand no chance. In case I'm unclear

We would be more efficient if we made the work week 80 hours minimum, at the small cost of people's happiness! China would stand no chance. In case I'm unclear, I feel that not keeping our economy diverse and fair because China might make more stuff than us if we do is very misguided.