| abstract
| - One cause for today's economic woes (complaints about needing two incomes to support a family) is the fact that almost everyone works--both husband and wife, and almost all singles. The cure--to be posited by some economist in the future--is to demand that the amount of work done be reduced. This can be done in two ways. Either one of the genders is barred from working (which presents the problem of singles) or the amount of work be cut to 4-6 hours maximum for everyone. Overtime work will likewise be restricted. The theory behind this change goes as such: 1.
* Costs of goods/services depend on supply. Greater demand and reduced supply results in higher prices. Reduce supply and prices increase. 2.
* Now here's the change: Half work supply 3.
* Now let's view work/workers as the item. 4. 1.
* Reduce supply (hours work performed halved) and prices increase (wages paid to workers double). 5. 2.
* Since workers only work half time, this balances out with doubled wages so that the worker holds the same salary. 6. 3.
* The remaining time goes into FORCED leisure--NOT overtime, moonlighting, etc. 7.
* Simultaneously, let's view goods/services as the item. 8. 1.
* Reduce supply (goods/services produced halved) and prices increase (cost of item doubles). 9. 2.
* Since worker salary is stagnant while the cost of goods doubles, this means that workers have reduced buying potential. 10. 3.
* Reduced buying potential (halved buying capacity) means reduced property (halved property content). 11. 4.
* Now here's where psychology comes in. When everyone has reduced property (halved property content), everyone's aspiration for additional goods is reduced (want to have half as much). This phenomenon has been proven by the way society has been going for the past centuries--as more and more women joined the workforce during the time of the industrial revolution, the amount wanted by the workers increased. Conversely, when lately maximum hours were reduced, people's apparent quality of life did not decrease. 12. 5.
* When worker aspiration is reduced (want to have half as much), and amount of goods is reduced (halved property content), these two forces balance out, and the worker's contentment remains the same. This has been proven many times over as well--people always want a certain amount proportional to what they already have. We make two observations: 1.
* No matter how much people work, a person's contentment does not go up nor down. 2.
* Reduced work time results in greater leisure, but less goods overall.
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