Jump to ContentJump to Main Navigation
Perspectives on the Performance of the Continental Economies$
Users without a subscription are not able to see the full content.

Edmund S. Phelps and Hans-Werner Sinn

Print publication date: 2011

Print ISBN-13: 9780262015318

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262015318.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2017. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use (for details see http://www.mitpress.universitypressscholarship.com/page/privacy-policy).date: 12 December 2017

Controversies about Work, Leisure, and Welfare in Europe and the United States

Controversies about Work, Leisure, and Welfare in Europe and the United States

Chapter:
(p.343) 11 Controversies about Work, Leisure, and Welfare in Europe and the United States
Source:
Perspectives on the Performance of the Continental Economies
Author(s):

Robert J. Gordon

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262015318.003.0011

This chapter addresses the question of whether Europe is really as poor as suggested by comparative data on real GDP per capita. It examines two classes of arguments implying that standard PPP-based ratios of European output per capita relative to that of the United States understate true European welfare. It demonstrates that even if the decline in European hours per capita represented a voluntary transfer of work hours to pure leisure, that leisure is not worth much. It reviews debates involving four leading interpretations of the relative decline in European hours per capita. It also considers possible dimensions in which measured PPP GDP overstates welfare in the United States compared to Europe.

Keywords:   real GDP per capita, welfare, leisure, taxation

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.