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Comment by danmaz74

3 days ago

Sure, productivity increase is hugely important, but if you only pursue profit maximization, then all the productivity increase goes into profits, which means that the general population doesn't increase their well being much if at all.

The 40hr work week didn't come by as a consequence of the profit maximization mentality, but as a consequence of hard fought battles by the workers/employees against that mentality. And when I say "hard fought" I mean in the literal sense, with at least 1,000 workers killed just in the US in those days. https://en.wikipedia.org/wiki/List_of_worker_deaths_in_Unite...

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danmaz74

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WalterBright  3 days ago

The Law of Supply and Demand is in play, and it means a company cannot dictate prices, wages, or working conditions in a free market economy. Rising productivity would have reduced the average work week regardless.

If you still aren't convinced, consider that the benefits package routinely offered to employees is worth around 40% of their pay.

  • KittenInABox  3 days ago

    > Rising productivity would have reduced the average work week regardless.

    Do you have evidence of this?

    > consider that the benefits package routinely offered to employees is worth around 40% of their pay

    Please define "routinely" and "employees". Part-time employees do not get benefits packages, much less benefits packages worth 40% of their pay. PTO, Sick time, family leave, and other "benefits" are actually legally mandated and I do not see any evidence that companies would offer this if they were not mandated to do so.

    • WalterBright  3 days ago

      > Do you have evidence of this?

      Yes. Part time work.

      Google sez: "Total compensation generally exceeds base salary by 30% to 50% for many roles, meaning salary often represents only 60% to 70% of an employee's total worth to the company."

      Google sez total compensation includes bonuses, commission, stock options, employer-paid insurance (health, life, disability), retirement contributions, paid time off, tuition reimbursement, student loan assistance, gym memberships, employee discounts, Childcare assistance, commuter benefits, and relocation expenses.

      None of those are mandated by law.

  • danmaz74  3 days ago

    Human societies aren't governed by simple, divine Laws. "Free market economy", based on rational actors, is an abstraction, an idealized model which is useful to understand some mechanisms, but it's far - VERY far - from being a complete model of any real society. At some point, trying to explain everything with the simple rules of that abstraction becomes an ideology just like Communism, which tries to do the same with different abstractions/simplifications.

    • WalterBright  2 days ago

      The difference between free market theory and communist theory is free market countries are far, far more prosperous than communist ones.