Surprise! When people work less, they feel better

If only democracies included some institution capable of regulating finance in a way that benefits most people.

Illustrative stock photoIllustrative stock photo (Source: Sme)

Don’t you just love three-day holiday weekends? Pretty much every Friday after lunch, I wonder: What if they were all that way?

Well, the Reykjavik City Council and the Icelandic government wondered the same. So they funded two five year studies that targeted 2,500 workers. Instead of their usual 40 hour workweeks, the workers reduced their hours to 35 or 36 hours. Their rate of pay stayed the same even though they were working the equivalent of nine to 18:00 just four days per week.

If you guessed that led to companies losing money, and people getting fat and lazy while the overall economy suffered, you are wrong.

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