I live in the USA and I am concerned about the future. I created this blog to share my thoughts on the economy and anything else that might catch my attention.
As a retired guy, I can vouch for the value of free time. OTOH, for those not on a pension and SS, work is necessary to provide livelihood.
But there is much more to it than that. Work provides purpose, dignity, fulfillment and accomplishment, association and community, and the opportunity to be a part of something larger than the self.
All of these things have quality of life value that cannot be measured in money.
Besides, the old saw about idle hands has some basis in reality. people also need direction and focus.
Mab has the proper trend wrong. It should not be to a smaller workforce, but to a workforce with an optimized balance of work and free time activities.
Work provides purpose, dignity, fulfillment and accomplishment, association and community, and the opportunity to be a part of something larger than the self.
In theory, it might.
In practice, you should ask my girlfriend about how dignified the work force is if you have a disability. Oh the stories she could tell.
In practice, there was no dignity for me when I watched my former company exposed for fraud on the front page of the Wall Street Journal for cooking the books. There was no dignity when it was announced to us by an upper management professional wearing dark sunglasses in a dimly lit conference room that our stock options would be repriced. There was no dignity in watching round after round of layoffs occur in the aftermath.
Mab has the proper trend wrong. It should not be to a smaller workforce, but to a workforce with an optimized balance of work and free time activities.
Jazzbumpa,
Is it optimal when the Government sanctions systemic credit fraud and allows bonus seeking bankers to charge people twice as much to own a house and three times as much for a college education.
Americans could have had all the neat gadgets and fancy tech stuff that enriches our lives without all the senseless debt. The point I was making was that people were duped into trading free time for debt - an incredibly bad trade!
This morning, Buffett spoke to CNBC about the issue.
I tell students they'd be better off if they never used them, he said. I can't make money if I'm out borrowing at whatever the rate may be, 12%, 14%, 16%. If I'm gonna go broke if I borrow at credit card rates, I'm in trouble.
Stag,
ReplyDeleteI don't see anything wrong with a smaller workforce (as a percentage) that works fewer hours. That's the proper trend imo.
The trend in CONsumption debt is the problem.
Free time is the most under-valued and under-appreciated commodity.
mab,
ReplyDeleteI don't see anything wrong with a smaller workforce (as a percentage) that works fewer hours. That's the proper trend imo.
Meet George Jetson!
Too bad our economy isn't set up for that. Fewer hours in this modern society means less pay. Sigh.
Free time is the most under-valued and under-appreciated commodity.
My #1 goal in life was to maximize the most under-valued and under-appreciated commodity. I think it came from having summers off in school.
I was a lazy person with ambitious goals, lol. ;)
As a retired guy, I can vouch for the value of free time. OTOH, for those not on a pension and SS, work is necessary to provide livelihood.
ReplyDeleteBut there is much more to it than that. Work provides purpose, dignity, fulfillment and accomplishment, association and community, and the opportunity to be a part of something larger than the self.
All of these things have quality of life value that cannot be measured in money.
Besides, the old saw about idle hands has some basis in reality. people also need direction and focus.
Mab has the proper trend wrong. It should not be to a smaller workforce, but to a workforce with an optimized balance of work and free time activities.
Cheers!
JzB the busy retiree
JazzBumpa,
ReplyDeleteWork provides purpose, dignity, fulfillment and accomplishment, association and community, and the opportunity to be a part of something larger than the self.
In theory, it might.
In practice, you should ask my girlfriend about how dignified the work force is if you have a disability. Oh the stories she could tell.
In practice, there was no dignity for me when I watched my former company exposed for fraud on the front page of the Wall Street Journal for cooking the books. There was no dignity when it was announced to us by an upper management professional wearing dark sunglasses in a dimly lit conference room that our stock options would be repriced. There was no dignity in watching round after round of layoffs occur in the aftermath.
As for work providing purpose, it is pretty clear what the purpose is: profits and at any cost.
ReplyDeleteThat's the American work dream. I'll pass.
"As for work providing purpose, it is pretty clear what the purpose is: profits and at any cost.
ReplyDeleteThat's the American work dream. I'll pass."
Could not agree more.
Reminds me of a story:
http://infinity.usanethosting.com/forum/messages/308.html
Always liked that one. I sent you email today as well.
Mab has the proper trend wrong. It should not be to a smaller workforce, but to a workforce with an optimized balance of work and free time activities.
ReplyDeleteJazzbumpa,
Is it optimal when the Government sanctions systemic credit fraud and allows bonus seeking bankers to charge people twice as much to own a house and three times as much for a college education.
Americans could have had all the neat gadgets and fancy tech stuff that enriches our lives without all the senseless debt. The point I was making was that people were duped into trading free time for debt - an incredibly bad trade!
GYSC,
ReplyDeleteI love that story!
As one who once found much joy sitting on a dock with a fishing line in the water, that story really hits home with me.
mab,
ReplyDeleteThe point I was making was that people were duped into trading free time for debt - an incredibly bad trade!
One might even call it a "poor" trade. Pun intended. Sigh.
March 02, 2011
Why Did Warren Buffett Invest In AXP If He Dislikes Credit Cards?
This morning, Buffett spoke to CNBC about the issue.
I tell students they'd be better off if they never used them, he said. I can't make money if I'm out borrowing at whatever the rate may be, 12%, 14%, 16%. If I'm gonna go broke if I borrow at credit card rates, I'm in trouble.