Sunday, December 16, 2007

Response to: Do we work too hard?

Everyone knows that U.S. citizens are the hardest working people in the entire world. That shows when the data of hours worked per year are given and the U.S. workers work three hundred more than workers in France. There is a law though in Europe limiting their workers to certain amount of hours per week. There also have been questions about whether the United States should have this law. I don't agree with this because it will hurt the Economic Growth os the U.S. and it will cause many recessions. Income will decrease along with the economy as less hours will be worked along with the amount of money made every week. Economic growth will decrease because less hours worked and more vacations means that there will be less money made, less production, and less money circulating around the economy. Also production possibilities will decrease because companies will not be able to make their quotas as less amount of hours will be worked. As workers don't work the hours that are used to being worked then production will go down due to not enough work being done. As economic growth and production decrease, so will the market mechanism of the U.S. economy. With less hours being worked and less production, then the market will also decrease along with thsoe two. Some people might say that with less hours being worked more people will have more time to be out buying items, but that won't effect the market mechanism like less hours being worked and more vacation time will. Less production and not enough economic growth will cause the market to decrease as there are not enough materials and money circulating.

1 comment:

Minghua Li said...

I think you got the essence out of it. Less work means the economy's growth will be stumped. I am also pleased that you make the connection between number of hours worked, economic growth and PPF.

List for improvment:
1) typos/grammatical errors:

"three hundred more than workers in France".(three hundred hours more than workers in France).

"Economic Growth os the U.S."(Economic Growth of the U.S. )

"As workers don't work the hours that are used."(As workers don't work the hours that they used to)

"along with thsoe two"(along with those two)

"but that won't effect the market mechanism" (but that won't AFFECT the market mechanism )
2. Economics mistakes:
"so will the market mechanism of the U.S. economy." No the market mechnism refers to the invisible hand: when price is too low and there is shortage, the price will start rising and emlimiate the shortage, and vise versa. This will not change just like gravity always works its way no matter you notice it or not.