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Work and Welfare

In: Human Resources, Employment and Development Volume 2: Concepts, Measurement and Long-Run Perspective

Author

Listed:
  • Frances Stewart

    (Oxford University)

Abstract

Work is central to man’s existence. Some have seen it as the main distinguishing characteristic of homo sapiens.1 It forms the central feature of the life cycle, with the pre-work years largely devoted to preparation for work, and the post-work years viewed as retirement from work. Apart from sleep, work (paid or unpaid)2 is the activity on which people spend most time. Yet despite its central role, mainstream economics3 is concerned with work only as a means to produce goods and services. Man is regarded as a consuming animal, work being a necessary cost. According to Adam Smith:4 ‘Consumption is the sole end and purpose of all production; and the interest of the producer ought to be attended to only so far as it may be necessary for promoting that of the consumer’.

Suggested Citation

  • Frances Stewart, 1983. "Work and Welfare," International Economic Association Series, in: Paul Streeten & Harry Maier (ed.), Human Resources, Employment and Development Volume 2: Concepts, Measurement and Long-Run Perspective, chapter 10, pages 209-226, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-17203-0_10
    DOI: 10.1007/978-1-349-17203-0_10
    as

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