Towards the Solution of the Economic Problem? – On the Non-Revolutionary Relationship between Working Time and Productivity

Sebastian Schief
The increase of productivity we faced in the last hundred years was the basis for fundamental predictions on how a rising standard of living would reduce working time in the long run. Keynes predicted in 1930 that the economic problem would be solved and “mankind will be deprived of its traditional purpose” (Keynes 1931[1930]: 366). It is quite obvious that Keynes prediction is wrong when it comes to working time. This article takes a closer...
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