Jump to ContentJump to Main Navigation
Revisiting KeynesEconomic Possibilities for Our Grandchildren$
Users without a subscription are not able to see the full content.

Lorenzo Pecchi and Gustavo Piga

Print publication date: 2008

Print ISBN-13: 9780262162494

Published to MIT Press Scholarship Online: August 2013

DOI: 10.7551/mitpress/9780262162494.001.0001

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 26 June 2022

Why Do We Work More Than Keynes Expected?

Why Do We Work More Than Keynes Expected?

(p.135) 9 Why Do We Work More Than Keynes Expected?
Revisiting Keynes

Richard B. Freeman

The MIT Press

This chapter discusses Keynes’s speculation of a future world free from economic cares. Keynes predicted that incomes would increase massively in the next hundred years and that the higher standard of living would produce an era of leisure, where humans would work three hour shifts or a fifteen hour week and do more things for themselves. The people of 2030, however, would be in contrast to the rich loungers of Keynes’s era; they would lead more meaningful lives, doing a modicum of useful work as well as other morally desirable activities. Keynes was correct in predicting the rise in incomes, but he was wrong in thinking that this improvement in living standards would lead us to greatly reduce our working hours and spend more time doing small household or leisure tasks. The most striking counterexample to his prediction that increased wealth would produce greater leisure is the United States.

Keywords:   future world, economic cares, higher standard of living, era of leisure, rich loungers, rise in incomes, United States

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.