At the outset of the Great Depression in 1930 Keynes wrote an essay entitled “Economic Possibilities for Our Grandchildren” in which he declared that the economic problem, in the sense of meeting subsistence needs of everyone in the rich societies, might be solved in a hundred years. The issue would then become one of how to deal with leisure as the work week declined to three hours a day, a total of fifteen hours a week. At that point, he claimed, a new moral code might develop to bring society “out of the tunnel of economic necessity into the daylight.” Until then, however, the world would have to stick to an alienated moral code in which “fair is foul and foul is fair,” that is, one based on the greed and exploitation associated with the accumulation of capital.

The End of Rational Capitalism

The 15 hour work week suits me just fine. Maybe I should sleep in for the next 25 years.

%d bloggers like this: