Forum Post: The ACCELERATED WORK WEEK explained — fixes unemployment and inequality w/o gov't spending!
Posted 1 year ago on June 12, 2012, 3:35 p.m. EST by Misaki
This content is user submitted and not an official statement
The accelerated work week is where businesses give employees the option of a higher intensity work pace if they choose to work less. The "extra value" created by working harder in less time is split between the business and the employee, so both benefit.
Who would want to do this? Simple: people who are currently spending much of their income on "brands" and other things with limited or no value. Maybe they are spending $200/session on a psychologist when they could get the same benefit simply by spending more time with family and friends.
Another example is food at a store. Suppliers pay for shelf space, which means that stores have an incentive to make "non-branded" food as unattractive-looking as possible so people purchase the more expensive brands which pay the store more for shelf space. This doesn't mean that the non-branded food has any decrease in quality, but people still buy the branded food simply because they have money to spare.
(Another example is the fact that Apple and Samsung are now raking in 99% of the profit among top mobile phone vendors, because people are willing to pay a premium for a "cool" product. Seriously, unless you talk a lot on the phone, considering switching to a pre-paid plan or any of the many companies that "lease" airtime from the major network providers. The minimum required purchase rate is generally around $10/month.)
So you work less, earning more money than you otherwise would have in that amount of time, and both you and your employer benefit. Doesn't the fact that you're spending less money mean it hurts the economy? Nope, because a $5000 brand-name purse costs just about the same amount of work to make as a $50 or $100 purse, and employs mostly the same number of workers. Maybe the brand-name company also has advertisers and lawyers to sue Chinese companies that are making fakes, but if you work less it means those lawyers etc. can switch occupations to whatever you do and thereby contribute more to society.
The net effect of ONE person using the accelerated work week: they get paid slightly less but at a higher wage rate, their employer has lower costs for a given amount of work completed, and other corporations end up with lower profits. Someone else can be hired to do the remaining amount of work which is left over from working fewer hours.
The net effect of MANY people using the accelerated work week: more money in the pockets of workers (instead of going to corporate profits and the rich), which means more money being spent instead of sitting around in banks or on corporate balance sheets; lower inequality and unemployment. Less political corruption due to corporations having less money to play with. No need for persistent inflation due to full employment, so saving for retirement becomes much easier without needing to depend on financial markets for a positive real interest rate. More pressure to increase government efficiency since jobs would be available in the private sector. More attention paid to global warming.
Less crime. Lower college tuition costs due to a lower premium for education (which some people might not want). Fewer lawyers being employed due to lower corporate profits to afford them (or for lawyers from other corporations to aim for). A reduction in activity... "the death of" might be an exaggeration... on Wall Street.
Is this not what you want? Are you, Occupy Wall Street, not satisfied by these results?