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Incentives for the Homogenization of Time Use

In: Economic Incentives

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  • Daniel S. Hamermesh

Abstract

Keynes’ well-known prediction about the path of labor supply has hardly come to pass in the adulthood of his contemporaries’ grandchildren. Either the “old Adam” is much stronger than Keynes imagined (people’s tastes differ sharply from what he believed them to be), or other incentives have changed. The average workweek has not dropped to 15 hours, though there is some evidence [Beckerman, 1978] that the average amount of market work per adult fell slightly in most industrialized countries from the early 1950s at least up through the early 1970s.

Suggested Citation

  • Daniel S. Hamermesh, 1986. "Incentives for the Homogenization of Time Use," International Economic Association Series, in: Bela Balassa & Herbert Giersch (ed.), Economic Incentives, chapter 5, pages 124-172, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-18204-6_5
    DOI: 10.1007/978-1-349-18204-6_5
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    Cited by:

    1. John K. Dagsvik & Steinar StrF8m, 2002. "Analyzing labor supply behavior with latent job opportunity sets and institutional choice constraints," ICER Working Papers 15-2002, ICER - International Centre for Economic Research.

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