Economist Tyler Cowen on how the idea that productivity growth will reduce working hours hasn't panned out:
Some interesting bits:
- People do work less to some extent, but it's concentrated in the elderly (people retire much earlier now) and teenagers (less likely to have jobs while at school / university).
- Rich people (the top 1%) are working more than they ever were.
- People seem to enjoy working and will continue working even though they don't need to, e.g., after winning the lottery.