There will always be someone willing to undercut. Should that be reason for us all to race each other to the bottom?
I personally don’t think the negative consequences of working a little less (on paper!) are proportional to the positives.
May I have the list of such countries with a level of prosperity comparable to the US (which seriously consider an $85k tax-free minimum wage)?
Your "everything is still thriving" on paper turns out to be "everyone except the elite is drowning in poverty and they can't complain about it because then their totalitarian government will declare them terrorists or something" in practice. All the time.
California is the only state I’ve visited in the US, but I would say Scandinavians are wealthier on average/higher quality of life.
I'm not even surprised.
Socialist politics are extremely good at ensuring a high standard of living for the elite and shutting everyone else up. Look at any North Korean media outlet (of two or however many) - they're the best in the world, and everyone else is envious of them.
European social democratic politics are usually characterized by the opposite outcome, where high taxes and redistribution means the top 10% is much closer to the average Joe than in ultra capitalist countries. Less inequality in general.
> Look at any North Korean media outlet
If you seriously compare NK to any country in Europe, you have no clue, sorry.
No. Look at the median salary of a full-time worker in Europe and compare it to the US. They are drowning in poverty.
> top 10% is much closer to the average Joe
No. In the US top 10% full-time workers get you what? About 300k? It is way closer to the average US Joe than Europe has it's top 10% to their average poor workers. There is more inequality in Europe than in the US.
> If you seriously compare NK to any country in Europe, you have no clue, sorry.
Why? Because you chose to trust European propaganda and not North Korean propaganda? Ask those who chose to trust North Korean propaganda what they'd tell you.
There may or may not be a connection to work habits, but we should find out and then decide if we’re okay with the consequences (like the lowest GDP per capita state (AL) being on par with Germany). Maybe we’re okay with playing second fiddle. But we should know what we’re in for.
Denmark has 37 hours/week. Netherlands is around 32-33 on average AFAIK. Switzerland is ~35 hours/week. Ireland and Austria are also well below 40 to my knowledge.
Most research shows that non-mechanical work (i.e. where you have to think a little), gets a lower work-output above 40 hours/week than below. If sustained, it’s not just diminishing returns, but lower absolute output, even at just 3-5hours weekly overtime.
What? Switzerland is 40-42 hours for a full time employee.
I read that the average working hours is ~31/week. Digging further into that, it was the number of actual working hours on average (including part time and self-employeds), not what constitutes full-time employment.
For example, once the maternity leave runs out, in finance a lot of couples go to 80% so that with 1-2 days of home office you can always have someone watching the child. It's less money but the nurseries are so crazy expensive in Switzerland that it can actually even be positive in terms of total (edit:net) income.
I am not sure if we are in disagreement, but I believe my point stands: that Switzerland is a rich country despite working less than 40 hours/week on avg (actual hours).
But it's a fiction built on U.S. force projection. It's become apparent that none of these countries could defend themselves against an aggressive competitor.
And that there’s no B. So we’re thriving on debt.