Thursday, July 31, 2014

We need to decelerate

When you hear that the economy is “growing,” I suggest you substitute the word “accelerating.”  When more is produced in the same amount of time, the proper word to describe it is “accelerating.”  The economy has been accelerating for many years.  That is why everything feels so hectic.

One way to start deceleration is to reduce the work week by the rate of unemployment.  I do not doubt that people will be able to get as much work done in the shorter amount of time, so this reduction should take place with no reduction in pay.  For example, if a person is making $20 per hour for 40 hours a week, that is $800 per week, they should receive $800 for a 30 hour week.