The 15‐Hour Week: Keynes's Prediction Revisited

Nicholas Crafts

Economica, 2022, vol. 89, issue 356, 815-829

Abstract: In 1930, Keynes opined that by 2030, people would work only 15 hours per week. As such, this prediction will not be realized. However, expected lifetime hours of leisure and home production in the UK rose by 58% between 1931 and 2011, rather more than Keynes would have expected. This reflects increases in life expectancy at older ages and much longer expected periods of retirement. Leisure in retirement contributes to high life satisfaction for the elderly, but building up savings to pay for it is a barrier to working only 15 hours per week.

Date: 2022
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https://doi.org/10.1111/ecca.12439

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Working Paper: The 15-Hour Week: Keynes's Prediction Revisited (2021)
Working Paper: The 15-Hour Week: Keynes's Prediction Revisited (2021)
Working Paper: The 15-Hour Week: Keynes’s Prediction Revisited (2021)
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