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Japan, the country that gave us the word “karoshi” for “death from overwork,” is thinking about introducing an optional four-day workweek. The idea has also come up in Iceland, New Zealand, Spain and other places. It’s in fact so obvious, some wise people in the past would be gobsmacked to learn that we’re only just starting to talk about it now.
One such sage was the economist John Maynard Keynes. In 1930, just as the Great Depression was threatening his and the world’s prosperity, he penned a classic essay on the “Economic Possibilities for our Grandchildren.” The longer-term economic and technological trends, he argued counterintuitively, in fact suggested that within a century that is, right about now we could meet all our needs so efficiently, we’d only work out of habit or for fun, and even then probably no more than 15 hours a week.
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Published: July 1st, 2021
The University of Chicago professor and author of the new book Ages of American Capitalism discusses the influence of the 2008 financial crisis on his work, the role of the factory in the American imagination, Herman Melville s insight into American economic life and his love for Houston.
Jonathan Levy started his academic career in the wake of the financial crisis of 2008, which lent “an urgency to my teaching to make sense of that crisis and fit it within a larger historical narrative,” he said on this week’s Drinks With The Deal podcast. The same perspective informs his new book, “Ages of American Capitalism: A History of the United States.”
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