Stop Premature Obsolescence: LessTrash, Fewer Working Hours, Same Pay

Tommaso Luzzati, J. Christopher Proctor and S. D'Alessandro

Papers from arXiv.org

Abstract: About a century ago, Keynes predicted that, thanks to technological progress, today's working week would be reduced to 15 hours. In practice, however, large technological gains seem to have been offset by a substantial shortening of product lifespans. From a standard microeconomic perspective, this is inefficient as more labour and material resources are employed than necessary to deliver a given level of product-provided services. In this paper, we model policies aimed at reducing the current 'throwaway economy' as inducing a positive productivity shock in one economic sector and examine the conditions under which this shock's propagation to other sectors can allow for a reduction in working time, without reducing consumers' well-being, labour compensation, or profits. To this purpose, we first focus on a stylized three sector

Date: 2026-07
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Persistent link: https://EconPapers.repec.org/RePEc:arx:papers:2607.28371

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