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Why Technology Has Not Yet Shortened the Working Week

Why Technology Has Not Yet Shortened the Working Week
Why are we still working so much? · financialexpress.com

People once thought machines would do most of the hard work and give everyone much more free time.

In 1930, economist John Maynard Keynes predicted that people might work only 15 hours a week by 2030.

That prediction has not come true, even though computers and artificial intelligence can do many tasks quickly.

One reason is that societies often use higher productivity to produce and consume more instead of working less.

Some people also like work because it gives them money, purpose, friendships, and a routine.

Tests in Iceland showed that people could work fewer hours while keeping their pay and feeling better.

Politicians and companies are now discussing 32-hour workweeks.

The main question is whether future technology will give people more free time or simply create more work and production.

Key facts

Ford workweek change
On September 25, 1926, Henry Ford’s factories moved from a six-day to a five-day workweek while retaining eight-hour days and salaries.
Keynes’s prediction
John Maynard Keynes predicted a 15-hour workweek by 2030 in his 1930 essay “Economic Possibilities For Our Grandchildren.”
Jack Ma’s forecast
In 2019, Jack Ma predicted that artificial intelligence could eventually enable a three-day, four-hour-per-day workweek.
Iceland experiment
An Icelandic experiment from 2015 to 2019 included more than 2,500 people and reduced working hours without reducing wages.
Iceland results
The experiment reported improved work-life balance and well-being among participating workers.
Shorter-week proposal
Bernie Sanders and Representative Mark Takano introduced a United States bill providing for a 32-hour workweek without reducing income or benefits.
Research conclusion
A 2022 paper by Nicholas Crafts concluded that Keynes’s 15-hour workweek prediction will not come true, although lifetime leisure and home production increased in Britain between 1931 and 2011.

Sources

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