As part of his Labor Day message to workers in the United States, Sen. Bernie Sanders on Monday re-upped his call for the establishment of a 20% cut to the workweek with no loss in pay—an idea he said is “not radical” given the enormous productivity gains over recent decades that have resulted in massive profits for corporations but scraps for employees and the working class.
“It’s time for a 32-hour workweek with no loss in pay,” Sanders wrote in a Guardian op-ed as he cited a 480% increase in worker productivity since the 40-hour workweek was first established in 1940.
“It’s time,” he continued, “that working families were able to take advantage of the increased productivity that new technologies provide so that they can enjoy more leisure time, family time, educational and cultural opportunities—and less stress.”
Regardong employment.
It’s pretty much given that the pension system of many countries will collapse, so young people are paying into a system which they either won’t be able to use or will be heavily disadvantaged. IMHO the pension system should be privatized, but it’s of course too late, damage is done.
Income is taxed too heavily and wealth too little. These days it’s pretty much impossible to buy a house for many families even though the population doesn’t grow and new houses are being built. You can’t amass wealth with work, only woth inheritance.
Some worker protection laws should be weakened, specifically laying off people is often pretty much impossible which makes people allocation inefficient and companies conservative.