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Good video. Actually, the first to introduce this idea of fewer working hours was #Keynes in his short essay “Economic Possibilities for Our Grandchildren” where he says that we will work 15 hours a week by 2030. As we all know this will not happen. Why? Many factors, some are mentioned in this video. They are a few more factors who are will not allow this to happen. I will make a video about a similar topic. Overall very good video, EconomicsExplained continue your work :) Stay positive, stay inspired.
Can you do a video on the Economics of the Third Reich? I think they were Economically Socialist but I'm not a huge analyst in the subject so I'm not totally sure. A more in depth explanation of the economy would be great as you already did the Soviet Union's. Thank you!
I spend roughly 1-2 hours per MONTH on my real estate passive investments which generate $8000 of income every month. Legally pay $0 tax on it too. Everyone should be doing this. They won't, though.
Probably have one hour getting ready for work, one hour getting to and from work, one hour lunch which you probably aren't paid for, one hour cooking dinner plus chores. You probably only have 4 hours which can actually be used for activities you choose. Half the lie you're told.
@@kingrichardthe1st exactly, economics without some philosofy and/or sociology is just a tool; it was just a small critic, though, I appreciate the content
@@kingrichardthe1st nah, that's bulshit. Every chore can be considered during calculations and assigned value. All home chores do create real value for the economy, even though it's not explicitly rewarded by money. But yes, it can be estimated how much dollars each person produces by doing home chores and raising children. And it's an enormous amount of value that doesn't show up in GDP figures, but we can all feel the impact of it on the economy
@@kingrichardthe1st "The bourgeoisie has torn away from the family relationship its sentimental veil and has reduced it to a mere money relationship" - Marx
@@ttuliorancao And of course the enormously absurd generation of fictitious capital _does_ show up in GDP, despite _obviously_ being financial overhead nonsense. And yes pedants, fictitious capital does indeed have a non-fictitious affect, but only through its unquestioned systemic legitimization (like, say, adding it to GDP). Although, the first statement...I disagree...and it seems like so do you. If it's not measured monetarily through a market medium considering labor time or something...then how is it measured? I mean yes, you _could_ conceive of "a way", but for it to like...have any relative useful purpose would, to me, seem to increase alienation from family even _further_ which is saying quite a lot. In other words, the market is, in my opinion, a grotesque distortion of human social interaction. The market can put a price on anything but determine the value of nothing.
"What they do hate is lots of time spent doing very little interspersed with peaks of massive stressful expectations." This is, without a doubt, what pisses me off the most at work. Granted, I don't work in an office. I do aircraft maintenance. I absolutely HATE getting a task to do, finishing it, then sitting down, only to get another task an hour later, and then the process repeats constantly. I would rather have an entire list of things that need to get done that day or throughout the week, than just constantly getting up and sitting down, so I can just do what I need to do at one time. At least while I'm constantly working, time starts to fly.
It depends. The ideal is enough to be busy so that you can work at a decent pace all through the day. The second is your situation because the worse situation is having unrealistically targets. I’ve worked in jobs where the bosses just decided to triple our workload. So you work harder and harder and smarter until you cannot find any more efficiency. Everyone starts working later and later. You start meeting colleagues at the weekend to do the work that wasn’t finished during the week. Then you start having mental health issues. You and everyone else leaves. Your employer finds new idiots to screw over. They last half the time you and your colleagues do. Rinse and repeat and staff turnover is extremely high. Your ex boss approaches you and asks you to work there again. You refuse as you have a better job. But now you have anxiety as you held onto previous job too long and you’ve rewired your brain.
It's true for offices too. You get emails trickling in throughout the day... you can't make a complete to-do list because much of what to do is dependent on when client's email or call you (and of course, it's all unpredictable what it will be).
Sounds like the ER. Nothing to do unless people are out getting run over by buses, crashing their motorcycles and whatnot... I spend much of my night shifts watching UA-cam. But then again I work shifts, not a steady 9-5.
@Exocentric I think this only applies to certain jobs now. A lot of office jobs have gone remote and adopted goal orientated work schedules. I do think the 9-5 is starting to become obsolete in many industries especially office based. It will be interesting to see how work schedule are going to change in the near future. I wouldn't mind working 9-5 if the profit split was better in the business. But working 9-5 and no payed overtime and the CEO take a couple million extra each year is a bit ridiculous to say the least.
I do 10:00 to 18:15 with 1 hour break. So 7.25 hrs a day. On the other hand I can't skip the hour lunch and go home early, so it's still an hour lost on having lunch which is time that could be spend on other things.
"Maybe the ultimate luxury is just having more hours in the day." So true! I am a teacher and I am never "done" with my job during the school year. I work many nights and weekends because "teacher prep and planning" time is not sufficiently built into a school day. But I will say that the breaks we get are transformative. They renew us. It is amazing to not feel like a hamster on a wheel all the time. It gives you a chance to stop and think about what you really want in life.
teachers and professors generally get a decent deal w their breaks, as most of the time profs/teachers can have a set curriculum that they go thru, w most of time being spent on grading, logistics, etc. Obvi varies a lot, and esp for younger teachers it isn’t so set, but having a whole season off is realllll nice
"8 hrs of free time a day." Haha, yeah in my dreams. Right now, I currently get up at 5:30. Shower, get ready, eat a quick breakfast, and get preliminary work done before I leave at 7:30. It's a 1 hour commute to my office. I'm usually there from 8:30-5. Sometimes I'll stay longer if something really needs to get done. From 5-6 I head home, or head to the bar with my coworkers. After I get home I cook dinner, and do whatever chores need to be done around the apartment, prepare tomorrows lunch. By that time it's like 7:30-8 at night. This would be my "freetime" unless I went to the bar earlier. It usually only lasts an hour before I'm too tired and just go to bed from exhaustion. Rinse and repeat for the work week. There's just no way I can fit 8 hours of free time in no matter how I splice it, commuting, getting ready, doing daily chores, doing 'work outside of work' it all adds up. And I don't even have kids or a wife as added responsibilities.
@@cookiecakeeater6340 haha sure but I don’t think going to the bar is enough free time to balance out the work wk. particularly cause most of our unpaid leisure time is spent preparing for work or leaving it
Yes, five “quarterly” reports. Like trilogies in four parts. Three twins, a pair of triplets. Two-legged quadruped. A two-headed snake born with just ONE head.
Accountant speaking, I'm sorry but that is wrong, they just ask for MORE reports, more in-depth analysis. "Oh hey Stephen, we're creating a new division. You're going to be the accountant for that."
32 hour weeks, four day shifts, get rid of weekend hours for banks and such. Over lap the work force to lighten the loads on roads and public transportation.
Luckily, as a teacher, this is my routine. There is stress, specially with some specific students, but it is a great job and it doesn't seem to affect career that much, because there is no difference between a teacher that has 2 hours per day and a teacher that has 8 hours per day of classes. It is seasonal, though, so you need to plan the whole year, because November and December have too little students, so you earn a lot less, but January there is a lot of new students, so you can basically work as much as you want. Also, it is a remote job, so I don't even need to commute (with some few exceptions).
In terms of transportation, it is also quite interesting how we tend to avoid to schedule our day by minutes. You would start your work day at 09:00, but if it was 09:09, it would feel strange and you would probably aim for 09:00 either way.
32 hours for the win! Every job I've had be it factory floor production or engineering department computer work, the excessive hours slow productivity and increase mistakes and accidents. Everyone is sleep deprived, injured, exhausted, in pain and distracted. We are just dragging ourselves through the day instead of showing up refreshed and alert. So much time is spent correcting mistakes that would have never happened if people worked less.
I remember getting fired from a job because I was too fast doing my tasks and had lots of "free" time. I had the same if not more responsibilities than them but was organized and always find ways to automate tasks. I was using most of my "free" time helping others and walking around to see if somebody needed my help. Still they suffered because I wasn't staring at a screen doing the same stuff over and over all day long. They never cared to ask how I did stuff so quickly neither were open to hear me when I wanted to share ideas. Anyways I'm so happy I was fired from that job, I'd be stuck on that environment without much growth.
I can understand you well! I also had the problem of working too effectively at some jobs and thereby making the other employees look bad. never forget that automation mostly mean that jobs will be lost. I am currently happy in a small company where it is very much appreciated. my employer can take on more customers (the industry is doing well) and salaries are increasing. nevertheless we could all get by with 6 hour shifts... but in small companies, a sick leave is of course also quickly noticed and the time is then needed.
In all my jobs (many) I always managed to find efficient way never appreciated and stuck staring at screens for hours. Learnt to work slower or pretend in order to avoid getting bored/fired.
You sound like a beast bro, I'm sorry the system is so broken that you were punished for your efficiency and not rewarded. I'm gutted for you but glad you got out of a job with evidently moronic superiors
I don't understand why you didn't mention the elephant in the room, lowering hours only works if the hourly wage goes up. In the US most people need to work as much as possible because the cost of living is so high. A "full time" position is desired not for prestige but because it guarantees a monthly income. Most part time or casual positions mean you are at the mercy of how busy the day is. On slow days you get cut or don't get called in and you now have to figure out how to make up that shortfall in income. If the days are busy you are putting in a large amount of extra work and stress but then get sent home at 8hrs so the company doesn't have to pay overtime. There is no benefit for the worker. If you don't get called in one day or have your hours cut for a certain week its nearly impossible to just go pick up extra hours elsewhere. A business can usually absorb the costs of slow or unproductive days with the extra gains from very profitable days. Workers usually can't because the amount they owe for rent/food/utilities are constant and in the current marketplace arrangement extra productivity and gains only go to the business owner not the worker.
FUN FACT: If everyone worked 25% less and was paid 33% more per hours, prices of goods would most likely go up 33%. This is still a gain. You work 2 hours less (but more motivated) and everything else stays the same. Also gives people more time to spend money.
Exactly this! And it ties in with the basic income discussion. That could truly push us into a working revolution and crush this elephant in the room. These videos are great, but I think EE sometimes sees issues too separate while they are really tied together. He seems to understand this, but not incorporate these into his videos. Sure it might make the videos a bit more complex, but you would get to the root of the problem instead of hovering on the surface.
@Seven V cost of living is high in american cities because of rent. The problem is not cities - which are highly efficient settlements that reduce the physical resource costs of living - but demand imbalance of too many businesses, not enough residential buildings and not enough high density cities overall for a rapidly urbanizing population.
Not to mention that most people can only afford health insurance if the cost is supplemented by their employer. I live in NY and they have a tendency to hire people part time or per diem to avoid giving them benefits, all while giving them a "full time" schedule. Employers are always above employees and if a person doesn't fall in line, the market is so competitive, they will simply be replaced
Wages will not go up so long as large numbers of immigrants enter a job market. It's easy to see why because a vastly bigger supply of labor will reduce the buying costs of employers, particularly when immigrants have no qualms about working 40-hour weeks. Even Bernie Sanders admitted it when this line of thought was still politically tolerated.
Coming back thanks to the gig economy. You’ll have the “right” to work 150 hours each week at multiple gigs simultaneously most of the time. Companies will love a work force that is paid entirely by piecemeal while accepting no downside risk. You’ll be told that you have FREEDOM.
@@CarFreeSegnitz you'll also have freedom to work much less than 40 hours a week. And the freedom to work 70+ hours for a week and none for the other. A much better deal than what's now on the table thanks to the government tying healthcare with work, an ancient concept dating to the 40s.
Bertrand Russell, an English mathematician, philosopher and Nobel laureate said: "A man who has worked long hours all his life will be bored if he becomes suddenly idle . But without a considerable amount of leisure a man is cut off from many of the best things. The wise use of leisure, it must be conceded, is a product of civilization and education." Can it then be argued that our modern idealization of working long hours, based on Russell's wisdom, could be an indication that we are declining as a civilization and that our glorification of the person who works himself to death like some sort of masochist is an indication of how uneducated we are as a society?
I think it depends. In Japan, the US work ethic would be laughed at. In Europe, it is seen as horror. :D I do think there is a better way to be found, I just think we need to find it. Consuming less and saving more is one step.
Well if you're using quality of culture as a metric for quality of civilization, who's to say leisure is really what we need as a society? Perhaps longer work hours will lead to accelerated progress to the cosmos
You forgot that some governments and businesses made a cute little agreement to attach health insurance and other benefits to working full time. So citizens are stuck in a paradigm of working longer meaningless hours purely for beneifts
Sooner access to healthcare becomes a right regardless of wealth the better off they become. Allowing people to change careers or retrain without having to think about health insurance will make an economy more efficient.
@@189Blake When it comes to health care yes, but there are differences on how part time workers are treated from country to country, kind of sadly, there are still things to improve for sure!
i've worked 6 hours a day for years. This i found to be the most optimal. It gives you enough time to get everything you need to do outside of work and still have some time over. Also you make less mistakes, become more effective, better mood, look and feel more healthier. I highly recommend cutting hours if you can. For some this is mindblowing that you can get more done in 6 hours than in 8. It's in the long run that people who work 8 hours a day tend to slow down the longer they work without vacation. I who work 6 hours a day, i tend to never ever get close to this bottom, and instead bounce back every day and keep my energy levels on top. The alternative for a work where results and performance when it matters is what i really love. Meaning i can come and go as a i please, and perform and work hard when it matters.
Over reliance on an oil based economy, borrowed too much money, oil prices crashed, can't renegotiate their loans due to international (US) regulations. Basically the US refused to allow the IMF to help restructure their loans when they needed it most because of neocons being in charge of the funds. The same thing happened in Puerto Rico where an over reliance on a tourist based economy and over borrowing caused them to crash and the neocons in charge of the US refuse to help them restructure their debt. The IMF has taken a lot of heat for their role which has followed the conservative party of the US's ideology of Privatization of public services, reduction in government spending, and deregulation of business as the answer for everything and used Argentina as a means to push their agenda and hold it up as an example of what happens when you don't give them what they want.
lol "Our work schedule is completion based. If you get your work done early you can take it easy" *Assigns 80 hours worth of work per week and doesn't pay overtime*
@@arghonandi6818 "15% of your pay will be issued as series A shares to be released after 2 years. You might become a multi-millionaire!" Company values itself at 2M despite having no revenue or assets. Probably gonna go bankrupt in 3 years. Shares are unsellable.
@@OrobitoG the company I currently work for has a weird older setting where you can set personal arrangements and team leads and managers have a high degree of autonomy as long as their team does everything on time. Therefore most parents with young kids at the company went for 6 hours from home, with no break for the same salary. Some went with 6 hours flexible working hours, and some idiots just work 50-60 hours a week for the salary of 40 ... So people who are resourceful have a good time here, and timid people have a hard time ... I receive a salary for 40 hours and only give 40 hours of work.
I don't want career development tho. I want financial security. And I feel like a lot of Millenials and folks entering the workforce nowadays are in the same position.
@@Delgen1951 and you seem clueless as to how pointless it is for younger age brackets to put their labor into the system. I’m 27 and still put the work in, but honestly can’t judge anyone for checking out of it. Companies barely pay enough to live on in today’s economy
The boss has to do the least. That's why they're the boss. They get more money for less work. The poor worker will always have to take the heaviest load of effort.
For part time workers we need to take into account that some employers don't want you to have a second job, and will schedule specifically to prevent it, giving employees irregular hours or not tell them they are working Monday until closing time on Friday. This leaves vulnerable employees under the employer's thumb, with little opportunity to supplement their income or find a better job.
I worked at a place where I had to disclose if I had a 2nd job. They didn't specifically say you couldn't work a 2nd job. But they preferred that you didn't and tried to make it difficult for you.
When I was attending an evening school to get a better start into my career, there was someone who would get extra hours from his company once they found out when he went to evening school, exactly on those school days. They didn't want him to be more qualified on paper as they paid him the worst they could.
For Ford's switch to 40 hour work weeks, you also have to take into consideration that 8 hour work days allow for 3 shifts in 1 day instead of 2 shifts that would be longer.
if you need more work done hire more workers,then when the season with less demand for work comes,just fire them and rehire as neded,at least that what they do at amazon rather then offering part time hours :)))))
Then don't! I know not everyone can afford this. But honestly I think many many people can live without buying that new iphone or whatever (or choose a cheaper place to live) and work a little less. Creating a happier life. Money does next to nothing in that regard, the most important role of money is creating opportunity. And that is something that seems lost in this age of consumerism.
I still live with my parents but I work full time. Just learned a house epayment is like 800 on the low end a month. I cant afford that even though I'm saving. So yes. You do NEED to work extra
At what point do you realize you can't rely on handouts? Seriously if you came to me for a hand out, I would reach into my pocket and pull out a middle finger!
@@UnipornFrumm so how is someone constantly being laid off from work supposed to keep a roof over their head and stability in their life? You are stupid.
Honestly i think thats a better analogy for insurance companies than for bankers. I mean, bankers DO give you the money the moment you need/ask for it.
i work 48 hrs a week as a hostess, and i can barely manage to squeeze 3-4 hrs a day to spend on my hobbies (drawing, writing and anime). It's hard to even enjoy what I like without being perpetually exhausted.
@@mr.boomguy It was a tone-deaf response one of their suits made on a reddit thread when being asked about some of their predatory game design tactics (i.e. microtransactions). It ended up being one of the most downvoted responses of all time on reddit.
Mr. Boomguy EA is the publisher for the star wars mmo named "star wars the old Republic". When it first came out, it was possible to either buy the locked heroes or you had to play thousands of hours to unlock them. Someone did the math and it would have taken thousands of dollars to unlock all the heroes or you could spend roughly 40 hours unlocking each hero. So someone on reddit made a post about how he had to pay ea 80 bucks to be given the opportunity to grind 40 hours for darth Vader. The pr team for ea responded by saying how they wanted players to feel a sense of "pride and accomplishment" written they unlocked heroes. But people called them out for being a greedy bunch of assholes. After this exploded online, ea came out and said they were getting rid of the p2w aspect.
@@vengefulspirit99 I'm pretty sure that the whole mess was about Battlefront 2, not the old republic, as it has nothing to do with Darth Vader or unlocking any "heroes"
@@Sorcerers_Apprentice Not just "one of the most downvoted responses of all time"; it's THE most downvoted comment ever, and its -683000 karma count is almost 8 times as many as the second most downvoted comment.
Me: People should not travel abroad with coronavirus around Economics Explained: Finland is planning on reducing the standard work hours to 6 per day Me: *My package is ready*
Ive been an intern at an engineering company where everyone can leave whenever they are done and still get payed 40 hours a week. The only thing is that everyone has to keep track at how much time they spend on each task. If someone works too much too regularly they take away some of their tasks and if someone works too little they get more, if possible of course.
That’s what they tell you to do. There’s always a leeway of working faster than they assume it takes, then go home when you feel like it, still get the stuff done, bill in the hours they expect you to put in, but you actually put in a little less hours but not tell anyone because who wants more work?? That’s the only way I know how to bypass the unfair system.
Everyone who is not an "adult with a job" vastly overestimates the difference between themselves and an "adult with a job", who is in fact you, at a job, wondering how their co-workers seem to know what they're doing
FYI, the trials of 6h workdays for aged care workers in Sweden that I know of, largely showed good results. (The carers did have different and only partly-overlapping schedules, of course.) From what I understand, one major reason was that with the shorter hours, workers didn't need to be off sick as much - burnout being a major cause of bad health in care professions - which meant less of a need for sudden schedule changes, less overtime (and thus even less burnout), less need to hire substitutes to cover up for the sick employees, etc. At the end of the day, the main reason that the trial was abandoned, despite good outcomes financially and happier thus more productive employees, was new political leadership in the region going "no WAY this is good for out bottom line" and scrapping it. Which led to higher costs. #facepalm
Yes, especially in care, less hours would help so much. More people would be interested in this type of work if they weren't seeing everyone being burned out once they arrive, and also be less likely to find another type of career instead because they couldn't stand it anymore. Those cared for wouldn't feel like a burden of stressed out people. It's sad that despite so many countries saying they want to actively improve this situation, there is no consistent development and any improvement will be removed soon...
Not all people are motivated by money. In all reality I could live well without working between my wife's career, my previous success and family wealth. I still work 90+ hours a week during construction season. I enjoy working and I view it as competition. My company is constantly competing with other firms for design and construction contracts. The opportunity to build better, faster and efficiently is exciting.
@@fakeemail4005 Hard to find jobs like that in cheap places. The real trick is to save $10,000 of that each year, then take it somewhere cheap like Vietnam were you can buy a good house for a couple $10,000.
As a teacher, I always tell students do not turn in work till the end of class. They ask "why?", I respond "If the principle or vice principle walked in and you had nothing in the desk, it would look like you have done nothing". Teaching online has just shows how much I'm a manager most of the time in the class
I mean considering how poor the education system is in the US. It makes sense that teachers are mostly treated as Managers and Babysitters considering that's how the society views them.
Most of the time people who say they work long hours don't acctually do alot, most of the times I've worked in offices there's been meetings which don't mean anything and couldve not been done, and pretty much every retail job I've done managers and people stood around talking or sitting in the office doing not alot and there was no backlogs, but people didn't work themselves as hard as they say they do, people just had to look busy for the sake of saying they worked 12 hours a day, but they weren't acctually working in those 12 hours, I'd much rather get everything done as quickly as possible then go home to bed, or if there's alot to do then just pace till it's done, but if there isn't just get it done quick then go home. People always in a rush to go nowhere, usually if anyone says they work more than 10 hours a day they're probably lying, 10 hours a day is still a 45/50 hour week discounting breaks and if you work 6 / 7 days then it's 65/70
16:10 Also, part time jobs tend to pay less and in this day and age 'casual' positions often demand that the worker works full time but with no guarantee of ongoing hours.
in re Henry Ford -- There needs to be an end to this completely revisionist story based on Ford Inc PR on Henry Ford and how he treated his workers. ALL evidence shows that Ford HAD to increase wages because the turnover was so high on his assembly lines because it was mind-deadening repetitive work (and the best workers left the fastest - they could easily find other jobs) -- and the constant turnover of workers cost him lots of money because of constant training of newbies. He had to cut shift time to 8 hours because the number of errors and injuries increased dramatically when people were working 12 or 10 hour shifts -- Ford didn't care about hurt workers so much as the fact that the assembly line had to be stopped when there was a serious injury - so it ended up costing Ford less to have multiple 8-hour shifts and keep the assembly lines running.
Well, can't blame Ford for not developing what came 30 years later - from Japan - shifting work assignments to avoid these very problems and building IN the ability to stop production line by anybody. For a time, it was important development regardless of motivation.
"When you buy something with money, you're not paying with money, you're paying with the TIME of your LIFE that you had to spend to get that money." -- Former Uruguayan President
@@5stardave Not sure if your from the states, but in canada everyone pays for unemployment. Comes off every check like 100 buck. No reason not to use it if u fall into a circumstance u need to.
If you only have to work 40 hrs in a week you're freaking blessed. In many USA industries you don't really get a raise when you move up, you just get ALLOWED to work 50+ hours and get Overtime.
In Germany work hours are regulated by law, yet when Tesla opened a factory here, there have been a lot of discussion about them trying to avoid those laws in every way they could.
Americans use 1780 hours/year at work while the Japanese work 1710 hours/year at work. And at top is Mexico with their 2257 hours/year work hours. These numbers is from OECD www.instarem.com/blog/are-you-working-more-than-you-should/
The Problem is that the statistic of this is tricky. For example the study doesn´t count holidays and vacations, but they make a huge gap between the Countrys. But in Japan for example the workers have something around 4 weeks of leave a year, but only use up to ten and furthermore they do unregistered Overtime. So they work more than it seems. What also make a big difference is the Amount of Partimers, if in Mexico only the man of the family work and his wife stay at home, but in for example Germany also the mothers work but in parttime, you will get a huge difference.
My ideal is to run a 4-hour-workday company. I would have my employees work four-hour shifts, with emphasis placed on good documentation and procedure to "pass the baton" to the next person in the shift. I've met all sorts of people with all sorts of inernal clocks. Respecting your workers' time enables you to run a 24-hour business.
the four hour workday also appeals to people who are close to retirement, doing second income etc. My personal favorite would probably be 5 hour work day. I've worked out that is enough to comfortably survive off of and cover all my needs with enough spending cash left over for hobbies or the ability to save for bigger purchases.
Used to work for 3 to 6 hours a day for a year, but mostly it was 4. Despite being an insecure teenager back then, I would wake up very early, still looking forward to work, finishing every task as efficiently as I could. If it is paid in a way that one can live, it just seems like the perfect arrangement to me. Things get done, there is motivation and effort, life is good...
no, each person works for 4 hours... maybe an extra half to prepare / debrief the next person. If you mean the amount: I'd have to calculate median monthly living costs in the area. I'd pay them that plus equity.
@@AT-AT26 they get the same amount of work done in double the time If you knew you weren't going to go home until 8 -9 at night you would pace yourself too
For Korea, I'd heard that you can't really go home before the boss. And the boss don't really want to go home that much earlier than the workers. Plus there's compulsory drinking sessions after work. So the work numbers are MUCH higher than what is officially shown. And those are already bad enough.
I'm wfh and I spent the afternoon lying down on the floor listening to a podcast. I had done all the work I needed to do that day and some of the next day's work.
@@Delgen1951 Do you know my duties? I am not stealing your money. Tell someone who's miserable enough to work for you to 'get to work' whatever that means.
18:05 if a job is labelled as "part-time", it is not about the working hours but about the contractual nature of the job. Full-time is secure, pays taxes and social security, and it's permanent. Part-time is not permanent, you need to report your own taxes, and probably you'll have to pay your own health insurance.
Or just be a contractual worker and be your "own business", so you get the benefit of tax breaks and you are able to pay your own medical fees and then be able to bill the company for those expenses. Full-time in my country means you get screwed 30-40% of your money and can't claim ANYTHING back as all the tax breaks are only for businesses and none for employees. In my country it's an absolute chore to move to another company as you need to move provident funds, medical aid, tax etc, where as if you rather paid all of this yourself you'd only need to start working at another company.
@@kazykamakaze131 In the US "be a contract worker" usually means you pay more taxes, get no benefits from the company you work for and generally still have to follow all the same bullshit rules from the employer. This isn't true for some high skilled, high demand contract work, but there's been a big push in the last few decades of employers pushing their workers to contract status to cut their costs.
@@jeffmacdonald9863 Stop making ignorant statements and please read into how taxes work. You think your new work vehicle can't be deducted from taxes or perhaps tools in trades? or perhaps policy insurance covers like medical? I honestly do believe many people haven't even ever looked into what can be deducted from taxes. If you are a contract worker you have the capability to negotiate your payment amount to calculate things in like insurance benefits etc. If not then you are only kicking yourself and being stupid at the same time as no one is forcing you to work for said companies and especially with the fact of how low the US unemployment rate is compared to many parts of the world it's an employee market and this is why you can get such high rates for contract work. I know you are going to try and use the argument of "what about the normal poor worker forced into contract work?" and I will reply to this is nearly EVERYONE in employment market starts out with relatively bad salary as a junior and then later on you get significantly more money and if this is not the case for many workers it's not the employers fault if an employee never put the time in to upskill( ffs many universities offer online degrees now so there is no excuse, never mind the easy path of trade work where you don't even need a degree) it's up to you as the employee to take responsibility for your future and to do research on what the market would find most valuable and put time into acquiring said skill, if this is not done then I am not going to feel bad for a person that after 10 years of working never even put time in to progress and they are stuck getting very little money and then either get pushed into sub par contract work. I came from a country where the young professional ages from 18-30 had an unemployment rate of 50%, yet you don't see me crying about it nor get little amount of money for my work. I put time into myself and worked and studied full time at university and upskilled myself even though I came from a poor family and never got assistance, yet I got ahead in life and now earn a significant amount of money. So you see why I don't have sympathy for the lazy that can't even get ahead in a market that is among the easiest to get ahead on the planet.
Depends on employment laws doesn't it. In developed countries, part-time emplyees with a permanent contract have their taxes taken at source, even those with zero hours contracts. If the person you work for dictates where and when you work, you are an employee and have taxes taken by the employer.
but there are jobs that need 24/7/365 coverage. Powergrid operators, powerplant operators.... doctors, police, military... cut the time, you need far more of qulified people who simply do not exist.
Companies are wise to “advertising” lifestyle freedom/“set your own hours/be your own boss” BS as a major sell to the gig/casual economy arrangements that benefit capital and exploit labor, as per usual. Work/life balance is the privilege of people who earn a living wage (or dividend) and aren’t (as) exploited by the system. To the majority of society, none of this applies so you might as well be talking string theory.
@@slamdunk715 yes but it still matters how it was built and for what purpose. If the '' engine'' was built for exploiting that's what it's gonna do. Look at Finland and Denmark systems. It shows there can be balance.
I think it emerges from that protestant-dominated "work ethic" cultural hegemony that has just basically fused with hyper-capitalist exploitation as a sort of religious dogma disguised as secular "efficiency" or "rationality".
I do quite love "pick your hour" style jobs that let you do overtime when needed, and cut back if you aren't feeling well. Me personally, I go for overtime whenever I think I can manage it because who doesn't like the feeling of exceeding expectations (and getting that hefty +50% pay bump)?
Interesting. I work full time but naturally fell into a pattern of leaving when the job is done. For the right job and the right people, this is a win-win.
@@andrasbiro3007 There it is,someone wrongfully enjoying being succumbed to the system. The company doesn't give too much of a flip about you. You are enjoying that overtime schedule and they will throw you under the bus when you make mistakes and hire someone to replace you.It isn't about funds all the time, try to enjoy your time outside of work when you can.
Lobbying is just plain bribery/corruption. It's should be made law that a vote is only worth x amount and that people can give their x amount to their chosen politician. No lobbying, no bribery. Can bet you money things would turn around real quick.
Most people watching this are adults with full time jobs. I'm currently trying to hide my earbuds while working in a factory listening to this only to realize basically none of it applies to anyone in any kind of factory or service sector job. Also the assumption about people working part time because "they elected to have more free time" is as laughable as it is infuriating.
Yeah, it's a pretty obviously wrong and stupid thing to suggest in any society where unemployment exists that people "elect" to have specific types of jobs. The fact that there are fewer jobs than people who need jobs means there is zero negotiating power for the workers.
@@dontmisunderstand6041 Well, I live in Austria and about 47% of woman choose to work part time while only 10% of man work part time. It is an active decision and several woman explained to me that they could not fathom to have a 40h work week and prefere to have more free time vs the money.
@@benjaminmeusburger4254 If you would, cite the study that shows this data, and explain in detail the efforts that study took to differentiate between people simply having a part time job, and those who had a choice between a full time job and a part time job but chose the part time job instead.
@@dontmisunderstand6041 You will find the figures for Austrian part time employment here: news.wko.at/news/oesterreich/FS-Teilzeit-2019.pdf Most importent sentence: Knapp 70 % der Teilzeitbeschäftigten haben die Anzahl ihrer Arbeitsstunden selbst bestimmt. Teilzeit wird stark nachgefragt' Translation: 70% of part timer asked for reduced work hours. Part time is frequently requested (at the job interviews). 2nd source: karriere.sn.at/karriere-ratgeber/arbeitswelt/nach-wie-vor-gilt-teilzeit-ist-in-frauenhand-72206185 Most importent sentence: 'Immerhin sind drei Viertel der Damen mit ihrer Teilzeitarbeit zufrieden, ein Viertel der Befragten möchte dennoch gern mehr Stunden arbeiten.' translation: 3/4 of woman are happy with the part time and only 1/4 would like to work more.
@@benjaminmeusburger4254 I wonder if women in Austria would prefer it if men and women balanced both career and family more equally? Ideally at least? From my perspective at least, I am pretty sure many women would be glad to work a bit more if men would work a bit less. I don't think many women feel happy about giving up on the careers they have worked hard to achieve. I think choice between children and a career for women is a bit unfair as people choosing to start families are contributing to society: those children will be paying for the pensions of older populations someday (ideally). To make women pay for that "choice" as if it didn't benefit society is a bit convenient for those who benefit from this system. Women want their careers stalled...? Maybe some but not me and neither does any other woman I know. I am lucky to have a position that is full-time on paper but in reality part-time, same for my husband, and we manage our two kids together. The advantage to tech work I guess. All in all I think the current concept of full-time vs part-time work just doesn't make much sense in the level of productivity (e.g. 6 hours vs 8 hours) or the resulting brain drain (women leaving or reducing their role in the work force).
I mainly worked 40 hours+ for 23 years. 8 hours 5 days a week. For the last 2 years I've been only working 3 days a week. 8-10, sometimes 12 hours depending. I sleep more but feel a lot better and have way more of a life. The older you get the less you want to work. You only live once in this world. 40+hours a week will age and kill you. I don't think I'll ever go back to that.
Of course it needs some additional regulations like maximal hours allowed per week, minimal time of per day, and depending on position no night /sunday work. And obviously no fixed 9-5. so there could even be days here you do not show up at all, or here you show up early.
@Tommy Trinder Yes I think it depends on the positions and other commitments a person has, and it needs additional rules. But it can even allow more freedom sometimes that could be spent with family and kids, especially if you can predict when the spikes probably are and when you have less work you can plan to do more i^with your family for example.
Especially for lower skilled office positions (and other other jobs also), this would likely result in rather terrible working conditions. Consider that if an employer doesn't care about their reputation on employee level, there is not much stopping them from overworking people for as long as annual work time limit allows, and then just dumping them for whatever BS reason (or for the actual reason that they are unfit to work anymore as their health is in rapid decline due to extreme working hours for unreasonably long period). This of course mostly for positions that see return for all input hours, and BS positions that somehow inherit work from other positions if they somehow complete their own work queue.
12:00 Finland does not have a generalised rule of +-3 hours flex on start and end of working hours. Many companies have some stretch, but typically your schedule is written on the stone unless you swap with a colleague or call in sickleave.
And then in other end you'll have 40 hours a week to work freely. It sounds great, and is nice indeed, but also means you can't get paid for working overtime, which often happens in those jobs, you often have to be "on-duty" regardless of time of day (like contractor calling you 6:30, or client after 20:00) and there's still incentive to work regular hours, because of practical reasons. He kind of overgeneralises lot of things, especially to US perspective, which is weird since he's australian...?
@@jhutt8002 I would not go on salaried job, unless it paid 1.5x going rate. Being on wage (€ per hour instead of € per month) is so much more fair because i get paid for what i bother to do. For example on this day (31.8.2021) i took off at 15:30 (3:30pm) while my nominal hours would go up to 16:00. I can quit early because i have almost a day's worth of hours overtime in reserve. I don't see any point in loitering at my employer's yard (car repair shop and scrap/recycling) doing nothing.
I think you missed the part where companies intentionally set that 9 to 5 in people's mindsets. The only reason most workers want something like that is because they have been taught to want it. By their parents and their parents who were conditioned by the companies themselves.
Another thing to consider about full time vs part time is that, in the US, most people depend on their job for affordable healthcare. Companies aren't required to provide benefits for part time employees, so it's more desirable to have a full time job.
I like mg 4 tens, broken by one, then 2 days of rest. You’re off on the week and weekend. You’re always getting off of and going into your weekend. If you need a day off, the next day you work will be the only one before your next weekend. It’s lovely~
Part time vs. full time isn't just a question of being career/promotion driven or not, you also miss out on a lot of benefits and health care consideration if you take part time positions. Even if the hourly is the same, the positions would be wildly different in the way they set you up for life even if you never advance in either role.
Since switching to remote work, I spend way less hours in front of my computer screen. But my productivity hasn’t changed one bit. I still hit every deadline and produce the work quality that is expected of me
Utah had some interesting results when they tested a 10 hour day. It was found to be more productive because they weren't closing at the same time as everyone else and their employees preferred the regular 3 day weekend
The 4 day week with longer days does not get enough mention. Every study I've ever seen shows it benefits both sides of the equation employer and worker. That said understanding it only works in certain fields is important but it is one of the best models there are. As someone self employed with many friends similarly situated, fewer long days with more free days is by far more enjoyable.
I would like it a lot but it won’t work if society doesn’t follow. I can’t do this if the daycare opens and closes just in time for the typical hours workers to drop and pick up the children.
When I use to work for the local council, some 20 odd years ago, they had a great scheme called Flexitime. Basically you had your 40 hours per week BUT you could make up those hours how you pleased. You could do 5 8 hour days, or 4 10 hour days. There were time limits however, the earliest you could start was 7am and the latest you could finish was 6pm. Some weeks I'd decide to do the 4 10 hour week, if I was feeling a bit off I'd instead opt to go home early (having a short day) and make up the time over the next couple of days. My personal favorite was doing an extra hour each day (so 9 hours) because A) The boss had already gone home and B) it was mostly just free time and catching up on little things because the work was already done, then going home Friday lunchtime.
Add in that finding a part time role that pays the same annually or even weekly as a full time role that does the same job (even if the same outputs are requested) is pretty impossible. Doubly so when you add in benefits.
Yep. My Aunt is a real estate agent. She can work tons of hours one week and get nothing, and the next week barely work and close 5 deals. Guess it's kinda like fishing....
This is one of my favourite UA-cam Channels. Great videos, great content, well explained taking my understanding of Economics to a higher level each time.
cattle dont need care every day. if you have dairy cows then yes as you need to milk them. but meat cattle dont. sheep dont need daily care either. chickens dont need daily care. there are plenty of animals dont need daily care.
The work that needs to be done for animals change from week to week season to season, sheep need to cut before summer and chickens produce and eat less in winter for example.
Im a student that studies 70 hours a week and it’s not even exam season yet. Literally can’t wait til the day I only have to work 40 hours. However, I know it will never come. Young people are expected to work insane hours these days due to hustle culture and everyone I know works weekends. Soo..... be grateful that you only have to work 40 hours. You’re living my dream
That was my experience through college. I spent a bunch of time studying/going to class, I had an hour commute each way through traffic, I was always in an extra-curricular or two (FSAE, UAV, etc.), AND I also had a part time job. During my senior year with the design classes I was probably "working" a total of 80-100 hours per week constantly. Now I just do my 40 and enjoy my weekends. And whether or not you work 40 or more will mainly depend on the company you work for. Many of the startups will expect more of you, whereas many large companies don't want you working a single second over 40 hours because they don't want to pay you overtime. It all just depends!
@@NegativeAccelerate The downside to those large companies though is that there is potentially a higher risk for layoffs when compared to the startups. So, just keep that in mind. That may just be an engineering thing (I'm an aerospace engineer myself) so take that with a grain of salt. Ultimately, if you value the time with life and family I still believe you're better off most of the time with the larger companies than with startups. I'm in the same boat as you; I like my personal and family time. Good luck!
@@ZodiacEntertainment2 This is a global issue, everywhere there are more cars on the street at peak hours than what the roads can handle, our 9-5 schedule is also very arbitrary and contributes to commuting times, whenever I worked at 12 to 20 Schedule my commuting times were barely 20min, on a regular schedule I take 1h, pretty substantial on the long run.
Personally, I’d love to go part time. 3 days a week, and have time to do the things I want on the other day’s. That or 5 days a week and finish by lunch
I have a friend who works in council. One of her main roles is collating dater and generating reports at the end of the month. She is paid for an average 40hr week but can work as much as 65-70 hours a week at the end of the month, yet may only work 25-30 each week at other times.
I was following until the end where he started saying that people don’t like part time roles because of the stigma that they’re not serious. People in the states don’t like part time work because companies don’t have to provide benefits to people working under a certain number of hours. If I could work part time for the same money and still get benefits, I wouldn’t give a moments thought to ‘oh it won’t look like I’m serious’
I like legitimate salary pay for employees. You are hired to execute a series of responsibilities and why on Earth is it a problem if that means you can do it in 4 hours? Now, if the employee takes 10 regularly when most people take 8, then the supervisor needs to redelegate tasks.
that's not how salary works. Salary means you get paid the same amount no matter how many hours you work in a week. That means you're supposed to be accessible 24/7. If a manufacturing issue happens on a Saturday night, guess what? You have to go in and you don't get paid anything extra for it. The flipside is that you can skip out of work an hour early if you don't have anything going on.
@@justinokraski3796 The issue is more that employers want to have their cake (overtime-exempt employees) and eat it too (MANDATE 40hrs or threaten punishment)
@@justinokraski3796 I apologize if I communicated poorly. That's exactly what I meant and I like that structure. You are hired to be paid X in order to execute Y.
@@gridlock489 You could still have a timecard with a generous range of expected hours for a pay period. Like if you deviate out of 40 to 120 hours in a 2 week period you are probably being given too much work or neglecting something.
I’m a civil servant in France, in an administrative role. We use a badge when we go in and out. We’re supposed to do 35hrs of work a week, but it’s only ‘checked’ on the first of each month, and you can be max 10hrs under or over. You have a couple of mandatory hours (2 in the morning, 2 in the afternoon). On really slow days, you can just come for those, and on really heavy days you can come at 6.45 am and leave at 8pm. It’s a pretty awesome system :)
Yep, I'm self-employed as well (contractor). During the spring/summer I have to put in around 60-80 hours. But in the winter I barely work. So it's more like work 9 months, get 3 months off.
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OSHA PLZ
You would have to alert to have noticed this. In reference to reaction time? Or how fast things can change?
Good video. Actually, the first to introduce this idea of fewer working hours was #Keynes in his short essay “Economic Possibilities for Our Grandchildren” where he says that we will work 15 hours a week by 2030. As we all know this will not happen. Why? Many factors, some are mentioned in this video. They are a few more factors who are will not allow this to happen. I will make a video about a similar topic. Overall very good video, EconomicsExplained continue your work :) Stay positive, stay inspired.
Can you do a video on the Economics of the Third Reich? I think they were Economically Socialist but I'm not a huge analyst in the subject so I'm not totally sure. A more in depth explanation of the economy would be great as you already did the Soviet Union's. Thank you!
@Asim Malik Oh, god... it's a Canadian!
I spend roughly 1-2 hours per MONTH on my real estate passive investments which generate $8000 of income every month. Legally pay $0 tax on it too. Everyone should be doing this. They won't, though.
The 8 hour workday doesn't always provide 8 hours for free time unfortunately. Everyone spends a certain amount of time commuting too.
Not this year. 🤭
Especially if you're working a closing shift, kinda hard to get those 8 hours of leisure.
Probably have one hour getting ready for work, one hour getting to and from work, one hour lunch which you probably aren't paid for, one hour cooking dinner plus chores. You probably only have 4 hours which can actually be used for activities you choose. Half the lie you're told.
coolbanana165 sometime they give you unpaid work to do in your home too. Its a lot of bullshit. Especially when they don’t pay overtime.
I leave home at 6:30am and get home around 5:00pm. 10 1/2 hours away from home. Only 8 1/2 hours of that is spent on the clock.
"8 hours of recreation", so I guess commuting, taking care of kids, doing home chores, etc. counts as recreation
It does as far as economists are concerned, anything that isn't work is leasure. It really isn't a system but around family at all.
@@kingrichardthe1st exactly, economics without some philosofy and/or sociology is just a tool; it was just a small critic, though, I appreciate the content
@@kingrichardthe1st nah, that's bulshit. Every chore can be considered during calculations and assigned value. All home chores do create real value for the economy, even though it's not explicitly rewarded by money.
But yes, it can be estimated how much dollars each person produces by doing home chores and raising children. And it's an enormous amount of value that doesn't show up in GDP figures, but we can all feel the impact of it on the economy
@@kingrichardthe1st "The bourgeoisie has torn away from the family relationship its sentimental veil and has reduced it to a mere money relationship" - Marx
@@ttuliorancao And of course the enormously absurd generation of fictitious capital _does_ show up in GDP, despite _obviously_ being financial overhead nonsense. And yes pedants, fictitious capital does indeed have a non-fictitious affect, but only through its unquestioned systemic legitimization (like, say, adding it to GDP).
Although, the first statement...I disagree...and it seems like so do you. If it's not measured monetarily through a market medium considering labor time or something...then how is it measured? I mean yes, you _could_ conceive of "a way", but for it to like...have any relative useful purpose would, to me, seem to increase alienation from family even _further_ which is saying quite a lot. In other words, the market is, in my opinion, a grotesque distortion of human social interaction. The market can put a price on anything but determine the value of nothing.
"What they do hate is lots of time spent doing very little interspersed with peaks of massive stressful expectations."
This is, without a doubt, what pisses me off the most at work. Granted, I don't work in an office. I do aircraft maintenance. I absolutely HATE getting a task to do, finishing it, then sitting down, only to get another task an hour later, and then the process repeats constantly. I would rather have an entire list of things that need to get done that day or throughout the week, than just constantly getting up and sitting down, so I can just do what I need to do at one time. At least while I'm constantly working, time starts to fly.
Its so much better to just dig in and get it done.
It depends. The ideal is enough to be busy so that you can work at a decent pace all through the day. The second is your situation because the worse situation is having unrealistically targets. I’ve worked in jobs where the bosses just decided to triple our workload. So you work harder and harder and smarter until you cannot find any more efficiency. Everyone starts working later and later. You start meeting colleagues at the weekend to do the work that wasn’t finished during the week. Then you start having mental health issues. You and everyone else leaves. Your employer finds new idiots to screw over. They last half the time you and your colleagues do. Rinse and repeat and staff turnover is extremely high. Your ex boss approaches you and asks you to work there again. You refuse as you have a better job. But now you have anxiety as you held onto previous job too long and you’ve rewired your brain.
It's true for offices too. You get emails trickling in throughout the day... you can't make a complete to-do list because much of what to do is dependent on when client's email or call you (and of course, it's all unpredictable what it will be).
Sounds like the ER. Nothing to do unless people are out getting run over by buses, crashing their motorcycles and whatnot... I spend much of my night shifts watching UA-cam. But then again I work shifts, not a steady 9-5.
woah, that's bad, but it's not that simple
Fact: Working full time really gets in the way of your leisure activities.
Real. Most days I would wake up, go to work, go home and then be too tired to do anything and go to sleep
I only sleep for 2 hours so... xD
@@kazykamakaze131 I kind of envy that, I'll never get to experience a cat nap. 😂
@@kazykamakaze131 Hopefully they're giving you enough time to rest, no amount of money is worth long term mental strain.
@Tsumuro It's not the "elite" that drives your work, it's your spending.
This man has the biggest vault of corny ‘business’ stock footage
It's filler. The discussion is not stock.
SD uhm ok. Did I say the discussion is stock (whatever that would mean)?😂
It's so beautiful
*stonk footage
spiffing brit is a strong challenger to that claim
Who actually have a 9 to 5 here?
Most places I've seen don't pay for the lunch hour. So it's more like 8 to 5...
Then you are looking a scummy places. By law you must be given lunch time and should be included in full time employment.
7-16 is the norm in Sweden. 1 hour payed break in total.
My hours are 8.30 to 4.30. 30 mins break.15 mins break. 10 min travel time to work. Not paid for lunch. 37.5 hours
@Exocentric I think this only applies to certain jobs now. A lot of office jobs have gone remote and adopted goal orientated work schedules. I do think the 9-5 is starting to become obsolete in many industries especially office based. It will be interesting to see how work schedule are going to change in the near future. I wouldn't mind working 9-5 if the profit split was better in the business. But working 9-5 and no payed overtime and the CEO take a couple million extra each year is a bit ridiculous to say the least.
I do 10:00 to 18:15 with 1 hour break. So 7.25 hrs a day. On the other hand I can't skip the hour lunch and go home early, so it's still an hour lost on having lunch which is time that could be spend on other things.
This better be good, its almost midnight and I should probably be asleep.
Lol where you do live? It’s 840am in the US east coast
It's 5 over here😅
where do u live? Just woke up lol
kefkapalazzo1 He may be living in Hawaii. It is nearly midnight there.
10:30pm Aest same time zone as the uploader
"Maybe the ultimate luxury is just having more hours in the day." So true! I am a teacher and I am never "done" with my job during the school year. I work many nights and weekends because "teacher prep and planning" time is not sufficiently built into a school day. But I will say that the breaks we get are transformative. They renew us. It is amazing to not feel like a hamster on a wheel all the time. It gives you a chance to stop and think about what you really want in life.
teachers and professors generally get a decent deal w their breaks, as most of the time profs/teachers can have a set curriculum that they go thru, w most of time being spent on grading, logistics, etc. Obvi varies a lot, and esp for younger teachers it isn’t so set, but having a whole season off is realllll nice
"8 hrs of free time a day." Haha, yeah in my dreams. Right now, I currently get up at 5:30. Shower, get ready, eat a quick breakfast, and get preliminary work done before I leave at 7:30. It's a 1 hour commute to my office. I'm usually there from 8:30-5. Sometimes I'll stay longer if something really needs to get done. From 5-6 I head home, or head to the bar with my coworkers. After I get home I cook dinner, and do whatever chores need to be done around the apartment, prepare tomorrows lunch. By that time it's like 7:30-8 at night. This would be my "freetime" unless I went to the bar earlier. It usually only lasts an hour before I'm too tired and just go to bed from exhaustion. Rinse and repeat for the work week. There's just no way I can fit 8 hours of free time in no matter how I splice it, commuting, getting ready, doing daily chores, doing 'work outside of work' it all adds up. And I don't even have kids or a wife as added responsibilities.
Going to the bar is free time
@@cookiecakeeater6340 haha sure but I don’t think going to the bar is enough free time to balance out the work wk. particularly cause most of our unpaid leisure time is spent preparing for work or leaving it
But.. where's your physical exercise time in all of that?
@@joshuasinclair4463 lol most people don't. I'm trying to add it in..... But my job is so mentally stressful. 😅
Manufacturing labor work week looks like this> 12hr. days three weeks straight, 1 weekend off then rinse/ repeat.
corporate slaves go brrrrrr
Panopticon will ensure that slaves go BRRRRR (louder, harder).
Slaves are inefficient. Better to outsource :)
Am a wagie, can confirm
Yeah, everybody should own their own business with no other employees...
movement2contact have you heard of something called a worker co op?
Managers be like: "Four quarterly reports a year is not enough. We need at least five... Let's hire an additional accountant!"
That's like getting nine women pregnant to get a child delivered in one month...
@@alvaro8914 Or like asking your roommate to help you out, so you can cook Minute rice in 30 seconds.
Dude Accountants have it rough take a look HR.
Yes, five “quarterly” reports. Like trilogies in four parts. Three twins, a pair of triplets. Two-legged quadruped. A two-headed snake born with just ONE head.
Accountant speaking, I'm sorry but that is wrong, they just ask for MORE reports, more in-depth analysis. "Oh hey Stephen, we're creating a new division. You're going to be the accountant for that."
32 hour weeks, four day shifts, get rid of weekend hours for banks and such. Over lap the work force to lighten the loads on roads and public transportation.
Luckily, as a teacher, this is my routine. There is stress, specially with some specific students, but it is a great job and it doesn't seem to affect career that much, because there is no difference between a teacher that has 2 hours per day and a teacher that has 8 hours per day of classes. It is seasonal, though, so you need to plan the whole year, because November and December have too little students, so you earn a lot less, but January there is a lot of new students, so you can basically work as much as you want. Also, it is a remote job, so I don't even need to commute (with some few exceptions).
Sorry sir, that's too much common sense
They’re not ready to hear it Jbone!!!
In terms of transportation, it is also quite interesting how we tend to avoid to schedule our day by minutes. You would start your work day at 09:00, but if it was 09:09, it would feel strange and you would probably aim for 09:00 either way.
32 hours for the win! Every job I've had be it factory floor production or engineering department computer work, the excessive hours slow productivity and increase mistakes and accidents. Everyone is sleep deprived, injured, exhausted, in pain and distracted. We are just dragging ourselves through the day instead of showing up refreshed and alert. So much time is spent correcting mistakes that would have never happened if people worked less.
EE: most people watching this are adults with full time jobs
Me: wut is goin on here?!
haha well you know now that you are a special outlier I suppose!
@@EconomicsExplained I've retired now, thankfully. In my last role, 40 hours was an easy week. That's teaching for you.
I know right?
Jablička yeah but you only work 3/4 of the year, it’s exactly what he was talking about with easy seasons and hard seasons
M J not necessarily. Some jobs require constant work
wot is goin on ere?
someone pointed this out to me and now I can un-hear it (sad)
who
Love your channel! Please do more on cryptocurrencies. Keep up the amazing work!
Bekfast
Bekfast
Breakfast!
I remember getting fired from a job because I was too fast doing my tasks and had lots of "free" time. I had the same if not more responsibilities than them but was organized and always find ways to automate tasks. I was using most of my "free" time helping others and walking around to see if somebody needed my help. Still they suffered because I wasn't staring at a screen doing the same stuff over and over all day long. They never cared to ask how I did stuff so quickly neither were open to hear me when I wanted to share ideas. Anyways I'm so happy I was fired from that job, I'd be stuck on that environment without much growth.
I can understand you well! I also had the problem of working too effectively at some jobs and thereby making the other employees look bad. never forget that automation mostly mean that jobs will be lost. I am currently happy in a small company where it is very much appreciated. my employer can take on more customers (the industry is doing well) and salaries are increasing. nevertheless we could all get by with 6 hour shifts... but in small companies, a sick leave is of course also quickly noticed and the time is then needed.
In all my jobs (many) I always managed to find efficient way never appreciated and stuck staring at screens for hours. Learnt to work slower or pretend in order to avoid getting bored/fired.
You sound like a beast bro, I'm sorry the system is so broken that you were punished for your efficiency and not rewarded. I'm gutted for you but glad you got out of a job with evidently moronic superiors
I don't understand why you didn't mention the elephant in the room, lowering hours only works if the hourly wage goes up. In the US most people need to work as much as possible because the cost of living is so high. A "full time" position is desired not for prestige but because it guarantees a monthly income. Most part time or casual positions mean you are at the mercy of how busy the day is. On slow days you get cut or don't get called in and you now have to figure out how to make up that shortfall in income. If the days are busy you are putting in a large amount of extra work and stress but then get sent home at 8hrs so the company doesn't have to pay overtime. There is no benefit for the worker. If you don't get called in one day or have your hours cut for a certain week its nearly impossible to just go pick up extra hours elsewhere. A business can usually absorb the costs of slow or unproductive days with the extra gains from very profitable days. Workers usually can't because the amount they owe for rent/food/utilities are constant and in the current marketplace arrangement extra productivity and gains only go to the business owner not the worker.
FUN FACT: If everyone worked 25% less and was paid 33% more per hours, prices of goods would most likely go up 33%. This is still a gain. You work 2 hours less (but more motivated) and everything else stays the same. Also gives people more time to spend money.
Exactly this! And it ties in with the basic income discussion. That could truly push us into a working revolution and crush this elephant in the room. These videos are great, but I think EE sometimes sees issues too separate while they are really tied together. He seems to understand this, but not incorporate these into his videos. Sure it might make the videos a bit more complex, but you would get to the root of the problem instead of hovering on the surface.
@Seven V cost of living is high in american cities because of rent. The problem is not cities - which are highly efficient settlements that reduce the physical resource costs of living - but demand imbalance of too many businesses, not enough residential buildings and not enough high density cities overall for a rapidly urbanizing population.
Not to mention that most people can only afford health insurance if the cost is supplemented by their employer. I live in NY and they have a tendency to hire people part time or per diem to avoid giving them benefits, all while giving them a "full time" schedule. Employers are always above employees and if a person doesn't fall in line, the market is so competitive, they will simply be replaced
Wages will not go up so long as large numbers of immigrants enter a job market. It's easy to see why because a vastly bigger supply of labor will reduce the buying costs of employers, particularly when immigrants have no qualms about working 40-hour weeks. Even Bernie Sanders admitted it when this line of thought was still politically tolerated.
The last time I was this early, 40 hour work weeks were considered part-time.
calm down there Ron Swanson...
Lol, can't think better.
Coming back thanks to the gig economy. You’ll have the “right” to work 150 hours each week at multiple gigs simultaneously most of the time. Companies will love a work force that is paid entirely by piecemeal while accepting no downside risk. You’ll be told that you have FREEDOM.
😂
@@CarFreeSegnitz you'll also have freedom to work much less than 40 hours a week. And the freedom to work 70+ hours for a week and none for the other. A much better deal than what's now on the table thanks to the government tying healthcare with work, an ancient concept dating to the 40s.
"... because they can feel the sense of pride and accomplishment in their work once it's done"
**shows EA logo**
I died.
I paused and looked for this comment.
Well at lest there was no micro transaction involved.
Hilarious!
Haha
Same
Bertrand Russell, an English mathematician, philosopher and Nobel laureate said: "A man who has worked long hours all his life will be bored if he becomes suddenly idle . But without a considerable amount of leisure a man is cut off from many of the best things. The wise use of leisure, it must be conceded, is a product of civilization and education." Can it then be argued that our modern idealization of working long hours, based on Russell's wisdom, could be an indication that we are declining as a civilization and that our glorification of the person who works himself to death like some sort of masochist is an indication of how uneducated we are as a society?
I think it depends. In Japan, the US work ethic would be laughed at. In Europe, it is seen as horror. :D I do think there is a better way to be found, I just think we need to find it. Consuming less and saving more is one step.
Well if you're using quality of culture as a metric for quality of civilization, who's to say leisure is really what we need as a society? Perhaps longer work hours will lead to accelerated progress to the cosmos
@Blackpilled Saint capitalism is killing us
@Bruno Pereira Criticizing capitalism dose not automatically make one a socialist
@@anarchogarfieldist1652 Correction: neoliberalism is killing us.
You forgot that some governments and businesses made a cute little agreement to attach health insurance and other benefits to working full time. So citizens are stuck in a paradigm of working longer meaningless hours purely for beneifts
Sooner access to healthcare becomes a right regardless of wealth the better off they become. Allowing people to change careers or retrain without having to think about health insurance will make an economy more efficient.
@@rwentfordable Luckily this is already reality in a large part of the world. Sadly it also isn't in another large part.
Some governments? ie USA only
Luckily in Europe, you get the same benefits regardless if you work part-time or full time.
@@189Blake When it comes to health care yes, but there are differences on how part time workers are treated from country to country, kind of sadly, there are still things to improve for sure!
i've worked 6 hours a day for years. This i found to be the most optimal. It gives you enough time to get everything you need to do outside of work and still have some time over. Also you make less mistakes, become more effective, better mood, look and feel more healthier. I highly recommend cutting hours if you can. For some this is mindblowing that you can get more done in 6 hours than in 8. It's in the long run that people who work 8 hours a day tend to slow down the longer they work without vacation. I who work 6 hours a day, i tend to never ever get close to this bottom, and instead bounce back every day and keep my energy levels on top. The alternative for a work where results and performance when it matters is what i really love. Meaning i can come and go as a i please, and perform and work hard when it matters.
My employer demands 8 hours a day but I notice a definite dropoff in productivity after 6.
but the downside is: you do 100 % of the work in 75 % of the time, but you only get paid for the 75 %
Depends whether you have a salary or are paid by the hour.
PLEASE do the economy of Argentina, the only developed nation to become a developing one
no nos expongan
Over reliance on an oil based economy, borrowed too much money, oil prices crashed, can't renegotiate their loans due to international (US) regulations.
Basically the US refused to allow the IMF to help restructure their loans when they needed it most because of neocons being in charge of the funds. The same thing happened in Puerto Rico where an over reliance on a tourist based economy and over borrowing caused them to crash and the neocons in charge of the US refuse to help them restructure their debt. The IMF has taken a lot of heat for their role which has followed the conservative party of the US's ideology of Privatization of public services, reduction in government spending, and deregulation of business as the answer for everything and used Argentina as a means to push their agenda and hold it up as an example of what happens when you don't give them what they want.
They'll become a sub developed nation soon
Philippines are also in the same boat
we were never a developed country to begin with, bro.
EE: 'Forty-hour work week'
Silicon Valley: 'Not a team player'
So real
lol
"Our work schedule is completion based. If you get your work done early you can take it easy"
*Assigns 80 hours worth of work per week and doesn't pay overtime*
@@appa609 price of success
@@arghonandi6818 "15% of your pay will be issued as series A shares to be released after 2 years. You might become a multi-millionaire!"
Company values itself at 2M despite having no revenue or assets. Probably gonna go bankrupt in 3 years. Shares are unsellable.
@@OrobitoG the company I currently work for has a weird older setting where you can set personal arrangements and team leads and managers have a high degree of autonomy as long as their team does everything on time. Therefore most parents with young kids at the company went for 6 hours from home, with no break for the same salary. Some went with 6 hours flexible working hours, and some idiots just work 50-60 hours a week for the salary of 40 ... So people who are resourceful have a good time here, and timid people have a hard time ... I receive a salary for 40 hours and only give 40 hours of work.
I don't want career development tho. I want financial security. And I feel like a lot of Millenials and folks entering the workforce nowadays are in the same position.
try being at the other end of the age line, doing all the work the 23 year old does not do, due to him playing with his cell phone.
@@Delgen1951 ok boomer 🙄 looks like u never struggled trying 2 get a job
@@Jackson-nr2mw You have no idea how wrong you are.
@@Jackson-nr2mw really dude, you have no clue at all of how hard i have had to work to get jobs over my working life. No clue at all Oh golden one.
@@Delgen1951 and you seem clueless as to how pointless it is for younger age brackets to put their labor into the system. I’m 27 and still put the work in, but honestly can’t judge anyone for checking out of it. Companies barely pay enough to live on in today’s economy
"My boss makes a dollar, I make a dime, that's why I shitpost, on company time"
You boss also has responsibilities, you have none, when you go home you can relax, he will never be done
Hope you get caught and fired.
Close enough to the original song :)
@@Grivian uh...since when does everybody except the boss have no responsibilities? Literally everybody has responsibilities.
The boss has to do the least. That's why they're the boss. They get more money for less work. The poor worker will always have to take the heaviest load of effort.
For part time workers we need to take into account that some employers don't want you to have a second job, and will schedule specifically to prevent it, giving employees irregular hours or not tell them they are working Monday until closing time on Friday. This leaves vulnerable employees under the employer's thumb, with little opportunity to supplement their income or find a better job.
I worked at a place where I had to disclose if I had a 2nd job. They didn't specifically say you couldn't work a 2nd job. But they preferred that you didn't and tried to make it difficult for you.
When I was attending an evening school to get a better start into my career, there was someone who would get extra hours from his company once they found out when he went to evening school, exactly on those school days. They didn't want him to be more qualified on paper as they paid him the worst they could.
For Ford's switch to 40 hour work weeks, you also have to take into consideration that 8 hour work days allow for 3 shifts in 1 day instead of 2 shifts that would be longer.
Simple answer:
No, we don't NEED to work 40 hours per week.
that's silliness.
if you need more work done hire more workers,then when the season with less demand for work comes,just fire them and rehire as neded,at least that what they do at amazon rather then offering part time hours :)))))
Then don't! I know not everyone can afford this. But honestly I think many many people can live without buying that new iphone or whatever (or choose a cheaper place to live) and work a little less. Creating a happier life. Money does next to nothing in that regard, the most important role of money is creating opportunity. And that is something that seems lost in this age of consumerism.
I still live with my parents but I work full time.
Just learned a house epayment is like 800 on the low end a month. I cant afford that even though I'm saving. So yes. You do NEED to work extra
At what point do you realize you can't rely on handouts? Seriously if you came to me for a hand out, I would reach into my pocket and pull out a middle finger!
@@UnipornFrumm so how is someone constantly being laid off from work supposed to keep a roof over their head and stability in their life? You are stupid.
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
― Mark Twain
Honestly i think thats a better analogy for insurance companies than for bankers. I mean, bankers DO give you the money the moment you need/ask for it.
@@mistrants2745 And even lends the umbrella when what you need is a storm bunker, and it's just a really bad idea to give the umbrella instead.
@@mistrants2745 Mark Twain would've been proud of you. Well done!
What relation does your statement have to the subject at hand?
@@cranberryeater7459 Nothing, the guy just wants to act like he's smart.
i work 48 hrs a week as a hostess, and i can barely manage to squeeze 3-4 hrs a day to spend on my hobbies (drawing, writing and anime). It's hard to even enjoy what I like without being perpetually exhausted.
Weeb
@@BitchChill Otaku
i feel you
@@BitchChill Whats wrong with liking Japanese culture?
"A sense of pride and accomplishment" inserts EA logo 😂😂😂
@@mr.boomguy It was a tone-deaf response one of their suits made on a reddit thread when being asked about some of their predatory game design tactics (i.e. microtransactions). It ended up being one of the most downvoted responses of all time on reddit.
Mr. Boomguy EA is the publisher for the star wars mmo named "star wars the old Republic". When it first came out, it was possible to either buy the locked heroes or you had to play thousands of hours to unlock them. Someone did the math and it would have taken thousands of dollars to unlock all the heroes or you could spend roughly 40 hours unlocking each hero. So someone on reddit made a post about how he had to pay ea 80 bucks to be given the opportunity to grind 40 hours for darth Vader. The pr team for ea responded by saying how they wanted players to feel a sense of "pride and accomplishment" written they unlocked heroes. But people called them out for being a greedy bunch of assholes. After this exploded online, ea came out and said they were getting rid of the p2w aspect.
@@vengefulspirit99 I'm pretty sure that the whole mess was about Battlefront 2, not the old republic, as it has nothing to do with Darth Vader or unlocking any "heroes"
Here is the original comment: www.reddit.com/r/StarWarsBattlefront/comments/7cff0b/seriously_i_paid_80_to_have_vader_locked/dppum98
@@Sorcerers_Apprentice Not just "one of the most downvoted responses of all time"; it's THE most downvoted comment ever, and its -683000 karma count is almost 8 times as many as the second most downvoted comment.
Me: People should not travel abroad with coronavirus around
Economics Explained: Finland is planning on reducing the standard work hours to 6 per day
Me: *My package is ready*
@THAT BARCODE FELLOW I guess it also depends on the industry
@THAT BARCODE FELLOW What did you work? I think it could be something Outdoors like Fisherman, Worker on a Oilrig or something like that.
Good luck learning basic Finnish... 😏
Lol go to Netherlands for 20 hour per week work. People there also do farming, so this make sense.
@@movement2contact lol Finnish are fluent in English so get rekt
Ive been an intern at an engineering company where everyone can leave whenever they are done and still get payed 40 hours a week. The only thing is that everyone has to keep track at how much time they spend on each task. If someone works too much too regularly they take away some of their tasks and if someone works too little they get more, if possible of course.
I wish I found something like this
That’s what they tell you to do. There’s always a leeway of working faster than they assume it takes, then go home when you feel like it, still get the stuff done, bill in the hours they expect you to put in, but you actually put in a little less hours but not tell anyone because who wants more work?? That’s the only way I know how to bypass the unfair system.
EE: most people watching this are adults with full time jobs
18 year old me living with my parents right now: huh
I wanted to say the same thing
I'm 16
Everyone who is not an "adult with a job" vastly overestimates the difference between themselves and an "adult with a job", who is in fact you, at a job, wondering how their co-workers seem to know what they're doing
Same here
17 here, started to work for my dad, and probably won’t move out so I can save money
FYI, the trials of 6h workdays for aged care workers in Sweden that I know of, largely showed good results. (The carers did have different and only partly-overlapping schedules, of course.) From what I understand, one major reason was that with the shorter hours, workers didn't need to be off sick as much - burnout being a major cause of bad health in care professions - which meant less of a need for sudden schedule changes, less overtime (and thus even less burnout), less need to hire substitutes to cover up for the sick employees, etc.
At the end of the day, the main reason that the trial was abandoned, despite good outcomes financially and happier thus more productive employees, was new political leadership in the region going "no WAY this is good for out bottom line" and scrapping it. Which led to higher costs. #facepalm
Yes, especially in care, less hours would help so much. More people would be interested in this type of work if they weren't seeing everyone being burned out once they arrive, and also be less likely to find another type of career instead because they couldn't stand it anymore. Those cared for wouldn't feel like a burden of stressed out people.
It's sad that despite so many countries saying they want to actively improve this situation, there is no consistent development and any improvement will be removed soon...
I mean this is no condescending manner, but I would really love to see your sources.
I found the optimal number of hours to work per week to be 30-35. I actually enjoyed going to work and had enough time for outside activities.
If only this 30-35 hour week happened in the UK, by the time the commute is factored in a 40 hour week it's almost a 10 hour day or 50 hours a week.
If you had the chance to make $100,000 a year part-time, why would you need any career advancement? It sounds like you've made it.
In some places that's the minimum to even afford living there.
@@XGD5layer
Pretty much this, believe it or not
Not all people are motivated by money. In all reality I could live well without working between my wife's career, my previous success and family wealth. I still work 90+ hours a week during construction season. I enjoy working and I view it as competition. My company is constantly competing with other firms for design and construction contracts. The opportunity to build better, faster and efficiently is exciting.
@@XGD5layer Then don't live there, lol. Get $100k from part-time work relatively near a home that's cheap to live in
@@fakeemail4005 Hard to find jobs like that in cheap places. The real trick is to save $10,000 of that each year, then take it somewhere cheap like Vietnam were you can buy a good house for a couple $10,000.
As a teacher, I always tell students do not turn in work till the end of class. They ask "why?", I respond "If the principle or vice principle walked in and you had nothing in the desk, it would look like you have done nothing". Teaching online has just shows how much I'm a manager most of the time in the class
I mean considering how poor the education system is in the US. It makes sense that teachers are mostly treated as Managers and Babysitters considering that's how the society views them.
Most of the time people who say they work long hours don't acctually do alot, most of the times I've worked in offices there's been meetings which don't mean anything and couldve not been done, and pretty much every retail job I've done managers and people stood around talking or sitting in the office doing not alot and there was no backlogs, but people didn't work themselves as hard as they say they do, people just had to look busy for the sake of saying they worked 12 hours a day, but they weren't acctually working in those 12 hours, I'd much rather get everything done as quickly as possible then go home to bed, or if there's alot to do then just pace till it's done, but if there isn't just get it done quick then go home. People always in a rush to go nowhere, usually if anyone says they work more than 10 hours a day they're probably lying, 10 hours a day is still a 45/50 hour week discounting breaks and if you work 6 / 7 days then it's 65/70
16:10 Also, part time jobs tend to pay less and in this day and age 'casual' positions often demand that the worker works full time but with no guarantee of ongoing hours.
Casual workers also have to be on call all the time.
in re Henry Ford -- There needs to be an end to this completely revisionist story based on Ford Inc PR on Henry Ford and how he treated his workers. ALL evidence shows that Ford HAD to increase wages because the turnover was so high on his assembly lines because it was mind-deadening repetitive work (and the best workers left the fastest - they could easily find other jobs) -- and the constant turnover of workers cost him lots of money because of constant training of newbies. He had to cut shift time to 8 hours because the number of errors and injuries increased dramatically when people were working 12 or 10 hour shifts -- Ford didn't care about hurt workers so much as the fact that the assembly line had to be stopped when there was a serious injury - so it ended up costing Ford less to have multiple 8-hour shifts and keep the assembly lines running.
So what you are saying is that suplly and demand of labour is doing what its supposed to do?
mystery guest Yeah, I’m sure Peruvian indentured banana labourers LOVE supply and demand of labour
@@modernclassicalmusic8942 peruvians don't grow bananas , maybe Colombian banana workers or Ecuadorian, but not peruvians
Well, can't blame Ford for not developing what came 30 years later - from Japan - shifting work assignments to avoid these very problems and building IN the ability to stop production line by anybody. For a time, it was important development regardless of motivation.
Not to mention the labor movement fighting for the obvious and beneficial way forward.
"When you buy something with money, you're not paying with money,
you're paying with the TIME of your LIFE that you had to spend to get that money."
-- Former Uruguayan President
Common sense 101.
When you're on unemployment, how much time did you spend earning that money?
Time is money, he is not wrong you know..
@@5stardave Not sure if your from the states, but in canada everyone pays for unemployment. Comes off every check like 100 buck. No reason not to use it if u fall into a circumstance u need to.
If you only have to work 40 hrs in a week you're freaking blessed. In many USA industries you don't really get a raise when you move up, you just get ALLOWED to work 50+ hours and get Overtime.
In Germany work hours are regulated by law, yet when Tesla opened a factory here, there have been a lot of discussion about them trying to avoid those laws in every way they could.
you saying that honestly makes me sad since everyone I know works less than 40
last time i was this early corona was just a beer
Japan: Yes
Seriously what is up with them?
@@tanaymanerikar6503 I think it's a part of their culture, just like how their culture effected most of their entertainment.
Fun fact, Americans work more hours than the Japanese
Americans use 1780 hours/year at work while the Japanese work 1710 hours/year at work.
And at top is Mexico with their 2257 hours/year work hours.
These numbers is from OECD www.instarem.com/blog/are-you-working-more-than-you-should/
The Problem is that the statistic of this is tricky. For example the study doesn´t count holidays and vacations, but they make a huge gap between the Countrys. But in Japan for example the workers have something around 4 weeks of leave a year, but only use up to ten and furthermore they do unregistered Overtime. So they work more than it seems.
What also make a big difference is the Amount of Partimers, if in Mexico only the man of the family work and his wife stay at home, but in for example Germany also the mothers work but in parttime, you will get a huge difference.
My ideal is to run a 4-hour-workday company. I would have my employees work four-hour shifts, with emphasis placed on good documentation and procedure to "pass the baton" to the next person in the shift. I've met all sorts of people with all sorts of inernal clocks. Respecting your workers' time enables you to run a 24-hour business.
the four hour workday also appeals to people who are close to retirement, doing second income etc. My personal favorite would probably be 5 hour work day. I've worked out that is enough to comfortably survive off of and cover all my needs with enough spending cash left over for hobbies or the ability to save for bigger purchases.
Used to work for 3 to 6 hours a day for a year, but mostly it was 4. Despite being an insecure teenager back then, I would wake up very early, still looking forward to work, finishing every task as efficiently as I could.
If it is paid in a way that one can live, it just seems like the perfect arrangement to me. Things get done, there is motivation and effort, life is good...
And pay them for 8 hrs?
no, each person works for 4 hours... maybe an extra half to prepare / debrief the next person. If you mean the amount: I'd have to calculate median monthly living costs in the area. I'd pay them that plus equity.
Mexico and South Korea: those are rookie numbers, we gotta bump those numbers up
how someone could survive working those kinda hours is beyond me
@@AT-AT26 they get the same amount of work done in double the time
If you knew you weren't going to go home until 8 -9 at night you would pace yourself too
For Korea, I'd heard that you can't really go home before the boss. And the boss don't really want to go home that much earlier than the workers. Plus there's compulsory drinking sessions after work. So the work numbers are MUCH higher than what is officially shown. And those are already bad enough.
Japan laughs while dying of overworking, they basically live in the office.
I'm wfh and I spent the afternoon lying down on the floor listening to a podcast. I had done all the work I needed to do that day and some of the next day's work.
"you won't be able to make the cow grow any faster"
**Monsanto wants to know your location**
Also the Cow barbarians want to speak with you, have horn must moo!
This justified the reason why i’m stressed out at work doing nothing
The EA reference was on point.
Pride and accomplishment (TM)
EE: when task is done it is done
My manager: here's a new task for you
job description and dutes as assigned !! ie anything the boss thinks of, also why are you stealing my money, get to work..
That's called a job!
@@Delgen1951 Do you know my duties? I am not stealing your money. Tell someone who's miserable enough to work for you to 'get to work' whatever that means.
@@corail53 That's not called a job.
Very grateful to work a more healthy 32 hour 4 day week for a living wage here in New Zealand :)
I would love to work that here in America
@@aliciaholsey572 be careful for what you wish for.
To clarify, I was referring to the hours and days a week ONLY..not the living wage part. Thanks for calling that out; I am with you.
18:05 if a job is labelled as "part-time", it is not about the working hours but about the contractual nature of the job. Full-time is secure, pays taxes and social security, and it's permanent. Part-time is not permanent, you need to report your own taxes, and probably you'll have to pay your own health insurance.
there are plenty of part-time jobs that do report your taxes for you. you're probably confusing part-time with 1099.
Or just be a contractual worker and be your "own business", so you get the benefit of tax breaks and you are able to pay your own medical fees and then be able to bill the company for those expenses. Full-time in my country means you get screwed 30-40% of your money and can't claim ANYTHING back as all the tax breaks are only for businesses and none for employees. In my country it's an absolute chore to move to another company as you need to move provident funds, medical aid, tax etc, where as if you rather paid all of this yourself you'd only need to start working at another company.
@@kazykamakaze131 In the US "be a contract worker" usually means you pay more taxes, get no benefits from the company you work for and generally still have to follow all the same bullshit rules from the employer. This isn't true for some high skilled, high demand contract work, but there's been a big push in the last few decades of employers pushing their workers to contract status to cut their costs.
@@jeffmacdonald9863 Stop making ignorant statements and please read into how taxes work. You think your new work vehicle can't be deducted from taxes or perhaps tools in trades? or perhaps policy insurance covers like medical?
I honestly do believe many people haven't even ever looked into what can be deducted from taxes. If you are a contract worker you have the capability to negotiate your payment amount to calculate things in like insurance benefits etc. If not then you are only kicking yourself and being stupid at the same time as no one is forcing you to work for said companies and especially with the fact of how low the US unemployment rate is compared to many parts of the world it's an employee market and this is why you can get such high rates for contract work. I know you are going to try and use the argument of "what about the normal poor worker forced into contract work?" and I will reply to this is nearly EVERYONE in employment market starts out with relatively bad salary as a junior and then later on you get significantly more money and if this is not the case for many workers it's not the employers fault if an employee never put the time in to upskill( ffs many universities offer online degrees now so there is no excuse, never mind the easy path of trade work where you don't even need a degree) it's up to you as the employee to take responsibility for your future and to do research on what the market would find most valuable and put time into acquiring said skill, if this is not done then I am not going to feel bad for a person that after 10 years of working never even put time in to progress and they are stuck getting very little money and then either get pushed into sub par contract work. I came from a country where the young professional ages from 18-30 had an unemployment rate of 50%, yet you don't see me crying about it nor get little amount of money for my work. I put time into myself and worked and studied full time at university and upskilled myself even though I came from a poor family and never got assistance, yet I got ahead in life and now earn a significant amount of money. So you see why I don't have sympathy for the lazy that can't even get ahead in a market that is among the easiest to get ahead on the planet.
Depends on employment laws doesn't it. In developed countries, part-time emplyees with a permanent contract have their taxes taken at source, even those with zero hours contracts. If the person you work for dictates where and when you work, you are an employee and have taxes taken by the employer.
EE: "office workers have kind of followed suit"
Editor: cuts to people in suits
Me: ಠ⍸ಠ ≖⍸≖
15:12 Guy by a pool with his laptop. This gave me so much anxiety.
And a suit on 💀
*No we don’t. Every job in the world doesn’t require the same amount of time. Thanks Henry Ford* 😂
Don't forget he is probably a pretty good percentage of the reason WW2 happened
but there are jobs that need 24/7/365 coverage.
Powergrid operators, powerplant operators.... doctors, police, military...
cut the time, you need far more of qulified people who simply do not exist.
@Dominik Lehner Ford helped create vehicles used in the war, I guess?
Zytran L same with mercedez if im not mistaken
Paerigos there are a lot of qualified people and if there arent make some with universities. Problem is good schools cost 200 bags
"If only I spent some more time at the office" are nobody's famous last words.
Companies are wise to “advertising” lifestyle freedom/“set your own hours/be your own boss” BS as a major sell to the gig/casual economy arrangements that benefit capital and exploit labor, as per usual. Work/life balance is the privilege of people who earn a living wage (or dividend) and aren’t (as) exploited by the system. To the majority of society, none of this applies so you might as well be talking string theory.
Sergio Montiel
The “system” ain’t out to get you.
@@Showmetheevidence- No. The system is out to benefit itself. Exploiting us is only a means to an end.
The "system" is not a single human being. It is not sentient. It does not have an agenda.
@@slamdunk715 yes but it still matters how it was built and for what purpose. If the '' engine'' was built for exploiting that's what it's gonna do. Look at Finland and Denmark systems. It shows there can be balance.
EE: Do we need to work a 40 hour week?
Me, an intellectual: Well technically if we all use acorns then we can retire at 17
Am shocked someone here mentioned expert rockwell,I taught only few knows of his good strategies which has been very helpful to me
You don't have to be shocked I trade with him too he has made name for himself indeed his good works are everywhere
Forex trading is made for people with strong mind who are ready to bear the risk to make it in life
I have lost money trying to invest on my own but pulled up when a buddy at work referred me to EXPERT ROCKWELL indeed I have recovered all my lost
In life we are meant to take risk worth taking because life itself is a risk
my job doesn't care what I do or when I do it as long as Its done. It's awesome.
"Fulltime" being more prestigious is a silly differentiation. We can just call the shorter hours "fulltime"?
I think it emerges from that protestant-dominated "work ethic" cultural hegemony that has just basically fused with hyper-capitalist exploitation as a sort of religious dogma disguised as secular "efficiency" or "rationality".
Yup. Shouldn't be called "part time" if it's "full job".
Fulltime usually recieves benefits like Healthcare, which companies won't want to give.
the IRS Does in fact call 30 hours or better fulltime.
everybody gangsta until EE tells us yes 40 hour weeks are required
40 hours? I usually run 50 hours.
I do quite love "pick your hour" style jobs that let you do overtime when needed, and cut back if you aren't feeling well. Me personally, I go for overtime whenever I think I can manage it because who doesn't like the feeling of exceeding expectations (and getting that hefty +50% pay bump)?
@@Tanget360 That does seem just the slightest bit unhealthy. Remember that the best investment is always your own health.
@Alexander Jenkins
25? I do zero
EE: "like you are supposed to be right now"
EE: * uploads on a sunday *
Only the dead can know peace from work. :)
Exactly! Who works on a Sunday? No one ever!
A 6 hour work day sounds ideal; hope more places adopt Finland's idea
Interesting. I work full time but naturally fell into a pattern of leaving when the job is done. For the right job and the right people, this is a win-win.
"9-5, 40h work week is unnecesarry. People can go by with less." *Elon Musk dislikes the video*
Elon Musk : Managing a startup is a 80 hour a week job, a week has 168 hours, so I can do two startups at a time and still have 8 hours to sleep.
@@andrasbiro3007 There it is,someone wrongfully enjoying being succumbed to the system. The company doesn't give too much of a flip about you. You are enjoying that overtime schedule and they will throw you under the bus when you make mistakes and hire someone to replace you.It isn't about funds all the time, try to enjoy your time outside of work when you can.
@@mosywilliams8458
What are you even talking about?
@@andrasbiro3007 That 80 hour a week job that you mentioned is too long and too much.
@@mosywilliams8458
It's not too much if you enjoy it and it makes you one of the richest mans in the world and allows you to achieve all your dreams.
i don't see 40 hours a week within 5 days changing anytime soon
corporations and those PACs still lobby hard
Lobbying is just plain bribery/corruption. It's should be made law that a vote is only worth x amount and that people can give their x amount to their chosen politician. No lobbying, no bribery. Can bet you money things would turn around real quick.
Thats why we have workplace shootings. They just haven’t found the owners yet.
Most people watching this are adults with full time jobs.
I'm currently trying to hide my earbuds while working in a factory listening to this only to realize basically none of it applies to anyone in any kind of factory or service sector job.
Also the assumption about people working part time because "they elected to have more free time" is as laughable as it is infuriating.
Yeah, it's a pretty obviously wrong and stupid thing to suggest in any society where unemployment exists that people "elect" to have specific types of jobs. The fact that there are fewer jobs than people who need jobs means there is zero negotiating power for the workers.
@@dontmisunderstand6041 Well, I live in Austria and about 47% of woman choose to work part time while only 10% of man work part time.
It is an active decision and several woman explained to me that they could not fathom to have a 40h work week and prefere to have more free time vs the money.
@@benjaminmeusburger4254 If you would, cite the study that shows this data, and explain in detail the efforts that study took to differentiate between people simply having a part time job, and those who had a choice between a full time job and a part time job but chose the part time job instead.
@@dontmisunderstand6041 You will find the figures for Austrian part time employment here:
news.wko.at/news/oesterreich/FS-Teilzeit-2019.pdf
Most importent sentence:
Knapp 70 % der Teilzeitbeschäftigten haben die Anzahl ihrer Arbeitsstunden selbst bestimmt. Teilzeit wird stark
nachgefragt'
Translation: 70% of part timer asked for reduced work hours. Part time is frequently requested (at the job interviews).
2nd source:
karriere.sn.at/karriere-ratgeber/arbeitswelt/nach-wie-vor-gilt-teilzeit-ist-in-frauenhand-72206185
Most importent sentence:
'Immerhin sind drei Viertel der Damen mit ihrer Teilzeitarbeit zufrieden, ein Viertel der Befragten möchte dennoch gern mehr Stunden arbeiten.'
translation: 3/4 of woman are happy with the part time and only 1/4 would like to work more.
@@benjaminmeusburger4254 I wonder if women in Austria would prefer it if men and women balanced both career and family more equally? Ideally at least? From my perspective at least, I am pretty sure many women would be glad to work a bit more if men would work a bit less. I don't think many women feel happy about giving up on the careers they have worked hard to achieve. I think choice between children and a career for women is a bit unfair as people choosing to start families are contributing to society: those children will be paying for the pensions of older populations someday (ideally). To make women pay for that "choice" as if it didn't benefit society is a bit convenient for those who benefit from this system. Women want their careers stalled...? Maybe some but not me and neither does any other woman I know. I am lucky to have a position that is full-time on paper but in reality part-time, same for my husband, and we manage our two kids together. The advantage to tech work I guess. All in all I think the current concept of full-time vs part-time work just doesn't make much sense in the level of productivity (e.g. 6 hours vs 8 hours) or the resulting brain drain (women leaving or reducing their role in the work force).
As a trainee accountant, this is a major reason that I've been suffering from depression for the last few years
11:45 “The prime minister of Finland” shows Tallinn in Estonia 😅
Oh no 3 seconds of Tallinn
Kind of the effect when you go for stock fotage
Well, it is only a short distance across the Baltic Sea from Helsinki.
@@Profus2001 But a very different country
I mainly worked 40 hours+ for 23 years. 8 hours 5 days a week. For the last 2 years I've been only working 3 days a week. 8-10, sometimes 12 hours depending. I sleep more but feel a lot better and have way more of a life. The older you get the less you want to work. You only live once in this world. 40+hours a week will age and kill you. I don't think I'll ever go back to that.
What about not weekly hours, but yearly hours. That already allows more flexibility for someone like accountants you used as an example?
I would not like that for my work, it would complicate overtime
8 months of empty offices, followed by people sleeping in the staircases for other 4 months is how I see that going down.
Of course it needs some additional regulations like maximal hours allowed per week, minimal time of per day, and depending on position no night /sunday work. And obviously no fixed 9-5. so there could even be days here you do not show up at all, or here you show up early.
@Tommy Trinder Yes I think it depends on the positions and other commitments a person has, and it needs additional rules. But it can even allow more freedom sometimes that could be spent with family and kids, especially if you can predict when the spikes probably are and when you have less work you can plan to do more i^with your family for example.
Especially for lower skilled office positions (and other other jobs also), this would likely result in rather terrible working conditions. Consider that if an employer doesn't care about their reputation on employee level, there is not much stopping them from overworking people for as long as annual work time limit allows, and then just dumping them for whatever BS reason (or for the actual reason that they are unfit to work anymore as their health is in rapid decline due to extreme working hours for unreasonably long period). This of course mostly for positions that see return for all input hours, and BS positions that somehow inherit work from other positions if they somehow complete their own work queue.
Me after watching all videos of Economics Explained:
*EKONOMIST*
*SMORT*
Not gonna lie, I laughed.
STONKS
UP
12:00 Finland does not have a generalised rule of +-3 hours flex on start and end of working hours. Many companies have some stretch, but typically your schedule is written on the stone unless you swap with a colleague or call in sickleave.
And then in other end you'll have 40 hours a week to work freely.
It sounds great, and is nice indeed, but also means you can't get paid for working overtime, which often happens in those jobs, you often have to be "on-duty" regardless of time of day (like contractor calling you 6:30, or client after 20:00) and there's still incentive to work regular hours, because of practical reasons.
He kind of overgeneralises lot of things, especially to US perspective, which is weird since he's australian...?
@@jhutt8002 I would not go on salaried job, unless it paid 1.5x going rate. Being on wage (€ per hour instead of € per month) is so much more fair because i get paid for what i bother to do. For example on this day (31.8.2021) i took off at 15:30 (3:30pm) while my nominal hours would go up to 16:00. I can quit early because i have almost a day's worth of hours overtime in reserve. I don't see any point in loitering at my employer's yard (car repair shop and scrap/recycling) doing nothing.
I think you missed the part where companies intentionally set that 9 to 5 in people's mindsets. The only reason most workers want something like that is because they have been taught to want it. By their parents and their parents who were conditioned by the companies themselves.
Another thing to consider about full time vs part time is that, in the US, most people depend on their job for affordable healthcare. Companies aren't required to provide benefits for part time employees, so it's more desirable to have a full time job.
I love 4-10's. 3 day weekends really help recharge and do things. I wish every job would adopt it. The body gets used to 10 hour days after a while.
Ridiculous. It should be 4-6's. You're being slaved.
Try doing 6x 11s lol
I agree
I work four 10s as well. Better but I'll be honest, 30 hour work weeks sounds about right to me
I like mg 4 tens, broken by one, then 2 days of rest. You’re off on the week and weekend. You’re always getting off of and going into your weekend. If you need a day off, the next day you work will be the only one before your next weekend. It’s lovely~
Part time vs. full time isn't just a question of being career/promotion driven or not, you also miss out on a lot of benefits and health care consideration if you take part time positions. Even if the hourly is the same, the positions would be wildly different in the way they set you up for life even if you never advance in either role.
Since switching to remote work, I spend way less hours in front of my computer screen. But my productivity hasn’t changed one bit. I still hit every deadline and produce the work quality that is expected of me
“Sense of pride and accomplishment”
*EA logo ominously fades in*
yeahs this is a good refference
The Rona has proven that I don't need to get to the office to get work done, in fact being at home I get more done
Utah had some interesting results when they tested a 10 hour day. It was found to be more productive because they weren't closing at the same time as everyone else and their employees preferred the regular 3 day weekend
The 4 day week with longer days does not get enough mention. Every study I've ever seen shows it benefits both sides of the equation employer and worker.
That said understanding it only works in certain fields is important but it is one of the best models there are. As someone self employed with many friends similarly situated, fewer long days with more free days is by far more enjoyable.
I would like it a lot but it won’t work if society doesn’t follow. I can’t do this if the daycare opens and closes just in time for the typical hours workers to drop and pick up the children.
@@Danquebec01 what makes the 4 day really work is the fact everyone works a different schedule.
When I use to work for the local council, some 20 odd years ago, they had a great scheme called Flexitime. Basically you had your 40 hours per week BUT you could make up those hours how you pleased. You could do 5 8 hour days, or 4 10 hour days. There were time limits however, the earliest you could start was 7am and the latest you could finish was 6pm. Some weeks I'd decide to do the 4 10 hour week, if I was feeling a bit off I'd instead opt to go home early (having a short day) and make up the time over the next couple of days.
My personal favorite was doing an extra hour each day (so 9 hours) because A) The boss had already gone home and B) it was mostly just free time and catching up on little things because the work was already done, then going home Friday lunchtime.
People on my team have experimented with it and often go back to 8 hour days because each ten hour day is too draining
Add in that finding a part time role that pays the same annually or even weekly as a full time role that does the same job (even if the same outputs are requested) is pretty impossible. Doubly so when you add in benefits.
"Working 40 hours a week doesn't increase productivity!"
*Cries in Real Estate*
Yep. My Aunt is a real estate agent. She can work tons of hours one week and get nothing, and the next week barely work and close 5 deals. Guess it's kinda like fishing....
@@mattbowdenuh Lol, that it is! I'm taking my state exam soon!
@@kingali1606 Wish you luck! And I hope you live in TX, AZ, CO, or NV where people are moving rather than somewhere like where there's an exodus.
@@mattbowdenuh HAHA, I live in NEW YORK
The cheeky slight of EA was much appreciated. One of the companies that ruined the video game industry.
This is one of my favourite UA-cam Channels. Great videos, great content, well explained taking my understanding of Economics to a higher level each time.
Raising crops has such fluid hours. Raising livestock doesn’t - animals need to be cared for every day.
the may be times when extra work is needed. If an animal gets pregnant or sick, for instance.
cattle dont need care every day. if you have dairy cows then yes as you need to milk them. but meat cattle dont.
sheep dont need daily care either. chickens dont need daily care. there are plenty of animals dont need daily care.
@gothicman03 meat is pretty awesome though. it's much better than the alternative.
@gothicman03 meat is more than flavor, though. but you'll never understand that.
The work that needs to be done for animals change from week to week season to season, sheep need to cut before summer and chickens produce and eat less in winter for example.
I prefer the 32 hour work week!
Some people need to work more than 32 hours
Im a student that studies 70 hours a week and it’s not even exam season yet.
Literally can’t wait til the day I only have to work 40 hours. However, I know it will never come. Young people are expected to work insane hours these days due to hustle culture and everyone I know works weekends.
Soo..... be grateful that you only have to work 40 hours. You’re living my dream
That was my experience through college. I spent a bunch of time studying/going to class, I had an hour commute each way through traffic, I was always in an extra-curricular or two (FSAE, UAV, etc.), AND I also had a part time job. During my senior year with the design classes I was probably "working" a total of 80-100 hours per week constantly. Now I just do my 40 and enjoy my weekends. And whether or not you work 40 or more will mainly depend on the company you work for. Many of the startups will expect more of you, whereas many large companies don't want you working a single second over 40 hours because they don't want to pay you overtime. It all just depends!
@@haydenwilhelm3882 good to know. I’ll look for a larger company so because I think I want a life and a family.
@@NegativeAccelerate The downside to those large companies though is that there is potentially a higher risk for layoffs when compared to the startups. So, just keep that in mind. That may just be an engineering thing (I'm an aerospace engineer myself) so take that with a grain of salt.
Ultimately, if you value the time with life and family I still believe you're better off most of the time with the larger companies than with startups. I'm in the same boat as you; I like my personal and family time.
Good luck!
Doubt
Well, considering commuting times have increased massively, leisure time is now reduced to a couple of hours or 4 a day for some people.
In America, at least, you can blame our terrible city planning and zoning for creating these large car-based commutes.
@@ZodiacEntertainment2 This is a global issue, everywhere there are more cars on the street at peak hours than what the roads can handle, our 9-5 schedule is also very arbitrary and contributes to commuting times, whenever I worked at 12 to 20 Schedule my commuting times were barely 20min, on a regular schedule I take 1h, pretty substantial on the long run.
@@riktorGaming Hopefully the 'work from home' push can help with this.
i thought EE was gonna talk about how employees are better off working 4 weekdays than the regular 5
It's so interesting to me to hear about the intricacies of economic decisions around people with office jobs.
Personally, I’d love to go part time. 3 days a week, and have time to do the things I want on the other day’s. That or 5 days a week and finish by lunch
I have a friend who works in council. One of her main roles is collating dater and generating reports at the end of the month. She is paid for an average 40hr week but can work as much as 65-70 hours a week at the end of the month, yet may only work 25-30 each week at other times.
I was following until the end where he started saying that people don’t like part time roles because of the stigma that they’re not serious. People in the states don’t like part time work because companies don’t have to provide benefits to people working under a certain number of hours. If I could work part time for the same money and still get benefits, I wouldn’t give a moments thought to ‘oh it won’t look like I’m serious’
I like legitimate salary pay for employees. You are hired to execute a series of responsibilities and why on Earth is it a problem if that means you can do it in 4 hours? Now, if the employee takes 10 regularly when most people take 8, then the supervisor needs to redelegate tasks.
Unfortunately not many companies are like that (the only good example I can think of is google)
that's not how salary works. Salary means you get paid the same amount no matter how many hours you work in a week. That means you're supposed to be accessible 24/7. If a manufacturing issue happens on a Saturday night, guess what? You have to go in and you don't get paid anything extra for it. The flipside is that you can skip out of work an hour early if you don't have anything going on.
@@justinokraski3796 The issue is more that employers want to have their cake (overtime-exempt employees) and eat it too (MANDATE 40hrs or threaten punishment)
@@justinokraski3796 I apologize if I communicated poorly. That's exactly what I meant and I like that structure. You are hired to be paid X in order to execute Y.
@@gridlock489 You could still have a timecard with a generous range of expected hours for a pay period. Like if you deviate out of 40 to 120 hours in a 2 week period you are probably being given too much work or neglecting something.
Last time I was this early, slavery wasn't subtle as today's wage slavery.
I’m a civil servant in France, in an administrative role. We use a badge when we go in and out. We’re supposed to do 35hrs of work a week, but it’s only ‘checked’ on the first of each month, and you can be max 10hrs under or over. You have a couple of mandatory hours (2 in the morning, 2 in the afternoon). On really slow days, you can just come for those, and on really heavy days you can come at 6.45 am and leave at 8pm. It’s a pretty awesome system :)
self employed for the past 13 years and managed to become financially free on around 5-10 hours per week. so glad I could say no to all of the intro
Yep, I'm self-employed as well (contractor). During the spring/summer I have to put in around 60-80 hours. But in the winter I barely work. So it's more like work 9 months, get 3 months off.
You give me hope Lee
hi Lee, what's your occupation?
I'm thinking about changing career, and i was wondering, which professions are offer good wages
Lee, 5 hours per week.... so where across the Mediterranean do you live? And how much weed do you have to grow to earn $200/hour?
@@interestingyoutubechannel1 😅