Incentives for the Homogenization of Time Use

Daniel Hamermesh

Chapter 5 in Economic Incentives, 1986, pp 124-172 from Palgrave Macmillan

Abstract: 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.

Keywords: Labor Market; Labor Supply; Minimum Wage; Wage Rate; Wage Differential (search for similar items in EconPapers)
Date: 1986
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Working Paper: Incentive for the Homogenization of Time Use (1984)
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DOI: 10.1007/978-1-349-18204-6_5

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