89. The obvious cure to the unemployment disease

As we are being hit by another recession, the scourge of unemployment looms large. For some countries, such as Spain, it is endemic, we coexist with high structural unemployment, oscillating between 10% and as high as 27% depending on the point of the economic cycle, and hitting particularly the young at a time when they should be building the foundations of their life. The cause is simple, there is not enough activity to create enough jobs. The solution is also simple. A 4 day working week would spread the same activity amongst 20% more workers, eliminating the problem. And there would be other benefits, such as better work-life balance and increases in productivity and demand, as the longer weekend break would result in a more energetic workforce with more time to consume the goods and services produced. Henry Ford introduced the 5 day week in his factories knowing that workers on a 7 day week would not buy a car, as they could not enjoy it. It is high time we take a leaf off his book

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Comments

Sandra K. said…
Yes, please - I cannot wait for a 4 day working week and a 6 hour working day!!!

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