Hudson: Where Is the Leisure Society?

Michael Stephens | April 26, 2012

From a February 2012 presentation delivered by Research Associate Michael Hudson:

Suppose you were alive back in 1945 and were told about all the new technology that would be invented between then and now: the computers and internet, mobile phones and other consumer electronics, faster and cheaper air travel, super trains and even outer space exploration, higher gas mileage on the ground, plastics, medical breakthroughs and science in general. You would have imagined what nearly all futurists expected: that we would be living in a life of leisure society by this time. Rising productivity would raise wages and living standards, enabling people to work shorter hours under more relaxed and less pressured workplace conditions.

Why hasn’t this occurred in recent years? In light of the enormous productivity gains since the end of World War II – and especially since 1980 – why isn’t everyone rich and enjoying the leisure economy that was promised? If the 99% is not getting the fruits of higher productivity, who is? Where has it gone?

Read the rest here at Naked Capitalism.


One Response to “Hudson: Where Is the Leisure Society?”

RSS feed for comments on this post. TrackBack URL

  1. Comment by Michael E PicrayApril 27, 2012 at 11:35 am   Reply

    This is one of the best articles I’ve seen to date that explains what is going on in the economic/political/social world today, and indicates where we are headed. EXCELLENT piece! Thanks for posting it!

Leave a Reply