Posts Tagged ‘labor’

2015 Labor Day Post

September 4, 2015

Every Labor Day I go back to my boyhood and remember what future was predicted then for us to be enjoying today.  This was the fifties and at that time it was very unusual for mothers to work outside the home.  The basic prediction was that advances in technology would result in significant leisure time for everyone.   Back then no one dreamed of anything like a personal computer, the internet, iPADs, or wifi.  In other words, technology went far beyond what was imagined.  So I ask again, what I’ve asked in every healthy memory blog post for Labor Day, “Why Are We Working So Hard?”  Today both marriage partners are working.  The predicted increase in leisure time has not materialized.  And we in the US work more hours than those in most advanced countries.  Often this announcement is made with pride, when it should be uttered in shame.

Some of the answers to the question, “why are we working so hard,” can be found in the three immediately preceding healthymemory blog posts.  “The Wellbeing of Nations:  Meaning, Motive, and Measurement” explained why the primary metric for measuring economies, the Gross Domestic Product (GDP) is seriously flawed.  This metric fails to capture many factors that make for well-being and happiness.  Moreover, it requires that economies continue to grown and expand.  Eventually the capacity for growth of the GDP will be limited and the resources for continuing this growth will be depleted.  The blog post also explained that this is an extremely difficult topic and the work in this area is still in its early stages.  Nevertheless, it has begun, so let us hope it will continue.

The healthymemory blog post “Behavioral Economics”  reviewed how classical economics is based on the model of a rational human.  There is ample evidence that we humans are not rational.  Behavioral economics is devoted to identifying behaviors that lead to desirable outcomes.  Again, there is much work to do, but it least it has started.

The  blog post “Why Information Grows”  presents a novel view of what makes economies successful.  The answer is knowledge and know how.  Again, these ideas are very new, but they offer the potential to guide us in the right direction.

Labor Day is a holiday, but  unfortunately it signals the end of summer and the traditional time for vacations and recreation.  I would suggest that Memorial Day, a holiday for the somber remembrance for those who have died fighting for our country, be switched with Labor Day.  Then Labor Day would signal the beginning of vacation and recreation time.

Nevertheless, as Labor Day is a holiday, let us engage in a fantasy so we can enjoy the holiday.  First of all, there would be a heavy investment in education, which would be free at all levels.  Moreover, education would continue throughout our lives.  This provides both for personal growth and facilitates the advancement of new technologies.  There would be ample free time.  Medical care would be guaranteed and free so people would not need to work for medical coverage.  People could drop out from time to time so that they could simply enjoy leisure time.  They could take classes in anything that
caught their fancy and found to be enjoyable.   Retirement, per se, would become obsolete as people would continue to learn and grow throughout their senior years

© Douglas Griffith and healthymemory.wordpress.com, 2015. 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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Labor Day Message 2014

August 31, 2014

 

Regular readers of the healthymemory blog might receognize some striking similarities between this message and the 2013 message. Unfortunately, not much has changed. When I was in elementary school the predictions were that due to technology we would have much more leisure time (http://en.wikipedia.org/wiki/Leisure) in the future. I’ll remind you that at this time it was highly unusual for married mothers to be working. In my view, some of the technological achievements, particularly in computing and in broadband, have vastly exceeded these predictions. So I ask you, why are we working so hard? We’re working much harder than when I was in elementary school. And it’s getting worse. Americans now work for eight and a half hours more a week than they did in 1979.

I would further ask, exactly what are we producing? Suppose only those who provided the essentials for living and for safety went to work. What percentage of the working population would that be? Make your own guess, but mine would be less than 10%, so what is going on here?. Currently we are working hard to achieve an unemployment rate at or below 5%. But is this a realistically achievable unemployment rate? Remember that the previous two occasions when the employment rate was at or below 5%, the economic prosperity was bogus. There was the dot com bogus, when people expected to become rich via the internet. Then there was the bogus finance/real estate boom where riches were created via bogus and unsubstantiated financial instruments. So why, absent some other fictitious basis for a boom, do we expect to get back to 5% unemployment

To examine the question of why we are working so hard, I present the following study tht can be found in Kahneman’s Thinking Fast and Slow.It found that being poor is bad. Of course, this finding is not surprising. The surprising finding is that a household income of $75,000 represented a satiation level beyond which experienced well being no longer increased. And this was in high cost living areas. In other areas the number would be lower. So, it is clear that we are working more for no real benefit. Why?

The world’s environmental and resource issues also need to be considered here. As the undeveloped world develops, the demands on resources, the pollution of the environment, and the rate of global warming will increase as the developing world hops on the same exhausting treadmill that the developed world has been on.

I think the problem is that classical economics has outlived its usefulness and has become destructive. Economics needs to undergo a paradigm shift. Classical economics is based on the rationale theory of man. Socials scientists have debunked this theory quite well as have behavioral economists. Computing the Gross National Product (GNP) in terms of hard dollars might seem to b objective, but reminds one of the drunk who is looking for his car keys under the streetlamp rather than in the dimly illuminated part of the parking where he dropped them. Economists need to consider subjective, relevant measures as happiness and life satisfaction, but these measures are given only glancing consideration. Perhaps this is due to the extreme economics supermeme that plagues us and has been discussed in previous healthymemory blog posts.

Once appropriate measures and appropriate philosophies regarding self fulfillment and self actualization are adopted we can get off the treadmill and enjoy the fruits of technology and our lives.

You also might visit or revisit the Healthymemory Blog Post “Gross National Happiness.” There is also an entry on this topic on wikipedia.org.