Economics @ ITT

The US is the Most Overworked Nation in the World

Posted in economics by ittecon on October 4, 2011

Using data by the U.S. BLS, the average productivity per American worker has increased 400% since 1950. One way to look at that is that it should only take one-quarter the work hours, or 11 hours per week, to afford the same standard of living as a worker in 1950 or our standard of living should be 4 times higher. Is that the case? Obviously not. Someone is profiting, it’s just not the average American worker.

via The U.S. is the Most Overworked Nation in the World.


2 Responses

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  1. solutions777 said, on October 4, 2011 at 2:03 pm

    Faulty analysis. If the American worker is so productive, why is the US economy going down the sink hole?

  2. ittecon said, on October 4, 2011 at 3:59 pm

    The analysis is not faulty. Productivity is a metric based on output per hour. The average worker produces 4 times what the same worker would have produced in the 1950s. Your assessment is limited to your equation of corporate productivity to the US economy as a whole. This is really a statement on the failure of capitalism as practised in the US. This is the same capitalism that Marx predicted would fail for the same reasons it is failing, but it doesn’t take a genius to see that.

    The reason the US economy is failing is the same reason that a small business would fail if the owners kept snitching from the til and not investing in future growth except that the owers would be the large corporations, which are earning record profits. The system is broken.

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