Year: 2025
Type: article
Abstract: In his 1930 essay ‘Economic Possibilities for Our Grandchildren,’ John Maynard Keynes explored what the future might look like for human society under continued economic growth and technological progress. Keynes predicted that within one hundred years the standard of living in advanced economies would rise dramatically, freeing humanity from the pressure of subsistence. Once basic needs are met, people would work far fewer hours — perhaps 15 hours a week. Things have developed differently. Keynes assumed that growth would benefit everyone, but inequality remains high, which is why many people still work long hours, not by choice but out of economic necessity. How extensive the differences are depending on the connection between economic development and political development. Therefore, welfare state theory is used to clarify why there are differences between the countries in Western Europe. This is done first by looking at the relationships between welfare and growth regimes. Then, what the differences in the activities of the public sector look like and finally, how this overall affects the labor market and especially the female workforce. This allows us to track differences in why and how far individual welfare regimes have come in terms of reducing weekly working hours.
Source: Review of Political Economy
Author: Mogens Ove Madsen
Institution: Aalborg University
Language: English
Field: Social Sciences
Domain: Social Sciences
Open Access status: hybrid
Funder: Aalborg Universitet
OpenAlex ID: W4414351663