But what’s different from Weber’s era is that it is now the rich who are the most stressed out and the most likely to be working the most …higher-income folks work more hours than lower-wage earners do.
This is a stunning moment in economic history: At one time we worked hard so that someday we (or our children) wouldn’t have to. Today, the more we earn, the more we work, since the opportunity cost of not working is all the greater (and since the higher we go, the more relatively deprived we feel).
In other words, when we get a raise, instead of using that hard-won money to buy “the good life,” we feel even more pressure to work since the shadow costs of not working are all the greater.
I’m a bit dubious about the assertion that lower income people are not working more to keep afloat, but the point this commentary makes is interesting. Yes, the International Work Machine keeps the hamsters running on those wheels! Does it all come from a lack of confidence about what is “the good life?” Back to those philosophy books!
Do not work harder than required to work,
Young men should sit around and drink all day;
Laze, laze, ignore the pressure not to shirk.