The obvious solution to productivity growth is to shorten the work week - anything over 32 hours is obscene - and to hire hundreds of thousand at government 'make work' sinecures.
This post made me smirk...
Perhaps I should have said - 'the obvious solution to lack of demand/overproduction caused by inequitably distributed productivity growth'.
But people are already working 32 hours a week because of the recession.
But the key is they are only being compensated for 32 hours. The way we fix the economy is to have them work 32 hours but receive (at least) the same pay they used to get for 40 hours. In this way we are effecting a redistribution (reducing theft and privilege). If we just reduce hours AND pay, we accomplish nothing whatsoever.
I don't see the purpose really. What we need to do is try to effect both wage growth and job security over the long run to stablise the economy. But doing that isn't going to be easy and it may be impossible. Business Managment styles need to change and value there workers mores as there most precious of assets and focus on building them up for the long term benefit of the business and not tossing them away like trash.
