The British have solved unemployment, once and for all.
Geege Schuman stashed this in Economics
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.
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.