9% drop in work might result in no drop in GDP, increase in work efficiency or even raise in GDP because this 9% goes somewhere, pesonal development, smarter consumption better care for the children or often long overdue maintenance of belongins.
In recent recession US industry shed a lot of workers with no intention of hiring them back and yet production and revenue already exceeded prerecession levels.
Work does not create wealth. Tools create wealth. There's always plenty of hands wanting to grab the tool and brains eager to learn how to swing it and modern tools require less and less of both.
In recent recession US industry shed a lot of workers with no intention of hiring them back and yet production and revenue already exceeded prerecession levels.
Work does not create wealth. Tools create wealth. There's always plenty of hands wanting to grab the tool and brains eager to learn how to swing it and modern tools require less and less of both.