this raises another problem that keynes may not have forseen (not sure when he made this prediction). people don't necessarily realize how much it costs to employ them beyond just their salary. stuff like health insurance, software licenses, and physical equipment/space doesn't scale with the hours worked by an employee (at least, not linearly). 37.5% of pay for 37.5% of the normal work week might sound good to you, but sounds pretty bad to your employer. they get 37.5% of the working hours for you, but pay well over 37.5% of the original cost. even if given the choice, I highly doubt most people would accept a superlinear pay cut in exchange for decreased hours.