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The British have solved unemployment, once and for all.


The British have solved unemployment once and for all Marketplace org

Well, it is not a device in the sense of an electronic contraption. But it is a mechanism, a policy mechanism that is being put forth by experts at the New Economics Foundation here in London, among others. The idea is quite simple (although implementation will be tougher; I'll get to that in a moment).

Here is the idea: the 21-hour work week.

Source: http://www.marketplace.org/topics/world/...

Stashed in: Economics!, Europe

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21-hour work week sounds great but how do we make any money?

The New Economics Foundation asserts that prices will fall if everyone works less (and can afford less).  I don't know ....

Not sure I believe that. 

If everyone can afford less then companies go out of business because fewer purchases.

Right.  The turbines of capitalism would grind to a halt.

That's what I think. But I'm not economist.

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