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I do wonder if we'll finally see a meaningful uptick in leisure with these productivity enhancements. It might be that something like boredom or purpose is driving the 40-ish hour week, more than material necessities.
It seems like it only takes a minority of participants to opt for "work longer" to upset the apple cart.
Imagine there were 10 people, they each got a new magic labor saving device that could 3x their productivity, 8 of them decided to only work 3 hours per day.
The other 2 decided to work 10 hour days and reap the benefit of effective 30 man hours per day.....what happens?
Seems like everyone would be forced to work 10 hour days?
Why would everyone be forced to work 10 hour days?
Yeah, very strange counterintuitive idea — basically, all this extra work and machinery and nothing much changes?
Op @denlillaapan minimises their use of LN on SNs by only attaching a receiving wallet.
He is never using sats when paying for posts or comments.
He is only taking sats from people who did attach sending wallets.
OP is an arsemilking hypocrit.
OP claims tax payer welfare funding from Iceland government on grounds of being a 'creative'.
@denlillaapan refuses to show his SNs wallet history because it proves he is an arsemilking hypocrit.
He will downzap this comment because he is a shameful hypocrit.
@denlillaapan minimises their use of LN on SNs by only attaching a receiving wallet.
He is never using sats when paying for posts or comments.
He is only taking sats from people who did attach sending wallets.
OP is an arsemilking hypocrit.
OP claims tax payer welfare funding from Iceland government on grounds of being a 'creative'.
@denlillaapan refuses to show his SNs wallet history because it proves he is an arsemilking hypocrit.
He will downzap this comment because he is a shameless hypocrit.
This is useful, because I do a lecture in my class where we work through the equilibrium effects of an increase to labor productivity, and we show (under the model assumptions), that the effect is primarily to lower commodity prices and increase commodity output, while the labor market (employment and wage rate) actually doesn't change.
This is against the students' intuition, as the students instincts are to think that if workers are more productive, you need fewer workers to make the same output, thus you will hire fewer workers.
It's the classic problem of treating a variable as fixed (output), that you shouldn't be treating as fixed.
Nice to have some early empirical backing for my ideas.