Long before the 40 hour week was enshrined in law, it was a demand raised by socialists, trade unionists and workers. It was fought for by generations who came before us, and only afterwards was it written into law.
A shorter work week with no loss in pay has long been a socialist demand, though people have forgotten it in the last three decades. It was a revelation to me to see this demand raised in the Transitional Program alongside the slogan for a "massive program of public works", which translates to the fiscal policy advocated by Stiglitz. A shorter work week with no loss in pay, which would resolve the economic crisis, cannot come from the government. That's the whole point of Gene's post. Sincerely Richard On Tue, Dec 27, 2011 at 8:22 PM, Jim Devine <[email protected]> wrote: > Eugene Coyle wrote: > > Stiglitz rightly criticizes the dependence on monetary policy and would > substitute enlightened fiscal policy. But neither he nor another > "respectable"" economist will mention, let alone advocate, a third economic > tool, reducing the work week to create jobs. < > > In a capitalist economy, all macro-oriented policy is controlled by > elite organizations. Monetary policy is controlled by the Federal Open > Market Committee, the macro-policy organ of a public/private > partnership (or what should be called a government-sponsored cartel of > banks). Fiscal policy is controlled by the millionaire's club (the > executive and legislative branches of the federal government). What > organization is in charge of determining the number of hours that each > of us works per week (or per year)? > > -- > Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own > way and let people talk.) -- Karl, paraphrasing Dante. > _______________________________________________ > pen-l mailing list > [email protected] > https://lists.csuchico.edu/mailman/listinfo/pen-l >
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