Wealth and Leisure Go Hand in Hand—except in the U.S.

The title of this post is identical to the title of an article b Christopher Ingraham in the Business section of the 28 February 2016 issue of the Washington Post.  That wealth and leisure go hand in hand has been a belief held by many, economists included.  Quite some time ago the famous economist John Maynard Keynes predicted that his grandchildren would have 15-hour work weeks due in part  to increased productivity from new machines and technology.  There have been many healthy memory posts on this topic (enter “Why Are We Working So Hard” in the healthymemory search block).  I’ve mentioned many times that when I was in elementary school back in the fifties that we were told that we would have ample free time today due to technology.  At that time it was unusual for women with children to work.  Today it appears that everyone is working more hours, so what happened to the benefits to technology?

Two economists, Charles  Jones and Peter Klenow have examined the number of hours worked as a function of the fraction of per person GDP.   So the value for the U.S is 1, and the values for other country are some percentage of 1.  The average annual number of hours worked per capita in the U.S is 877.  The only countries in the study with a higher number are Malawi, India, and Mexico.  The average number of hours worked per capita in France is 535 hours.   So the average number of hours worked in France is less than two-thirds as much as the average hours worked in the U.S.  The average number of hours worked in Italy and the United Kingdom are slightly higher than in France.

The standard of living of these countries is close to that of the U.S.  Moreover, the social  amenities offered in these countries are often superior to those offered in the U.S.   For example, medical care is free in the United Kingdom.  Not only is medical care free, but statistics indicate that the quality of medical care is superior in the United Kingdom.

So why is this the case in the United States, and why do citizens in the U.S. tolerate this situation?  I think this situation in the United States is not beneficial to health, in general, and memory health, in particular.

© Douglas Griffith and healthymemory.wordpress.com, 2016. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Douglas Griffith and healthymemory.wordpress.com with appropriate and specific direction to the original content.

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