Monday, December 22, 2014

Does wealth and education make people busier?

According to The Economist that seems to be the case, at least in America. Some interesting paragraphs:
"In America, for example, men who did not finish high-school gained nearly eight hours a week of leisure time between 1985 and 2005. Men with a college degree, however, saw their leisure time drop by six hours during the same period, which means they have even less leisure than they did in 1965, say Mark Aguiar of Princeton University and Erik Hurst of the University of Chicago. The same goes for well-educated American women, who not only have less leisure time than they did in 1965, but also nearly 11 hours less per week than women who did not graduate from high school."
and...
"Another reason is that all workers today report greater feelings of job insecurity. Slow economic growth and serious disruptions in any number of industries, from media to architecture to advertising, along with increasing income inequality, have created ever more competition for interesting, well-paid jobs. Meanwhile in much of the rich world, the cost of housing and private education has soared. They can also expect to live longer, and so need to ensure that their pension pots are stocked with ample cash for retirement. Faced with sharper competition, higher costs and a greater need for savings, even elite professionals are more nervous about their prospects than they used to be. This can keep people working in their offices at all hours, especially in America, where there are few legal limits on the working hours of salaried employees."
The piece is interesting throughout, and can be read here.

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