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Economic fallacies: is it time to work more, or less?
January 11, 2012
Economic fallacies: is it time to work more, or less?
Juliet Schor explains the economic logic of a shorter working week.
"31% of college-educated American men work more than 50 hours a week while 15.1% of all Americans live in poverty."
"Economists are fond of pointing out fallacies in economic logic, and unorthodox economists are especially fond of the sport. Adam Smith's famous maxim that the self-interested behavior of individuals produces the common good is one widely-held fallacy. It was spectacularly debunked by the selfish behavior of the 1% who crashed the world economy in 2008."
Read The Guardian article.
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