Tuesday, December 9, 2014
Zach Du, Epilogue, Question 6
In the epilogue, Wheelan proposes seven questions about economy for us to think about. The question "How many minutes of work will a loaf of bread cost?" attracted my attention. "Economc theory predicts that as our wages go up, we will work longer hours—up to a point, and then we will begin to work less. Time becomes more important than money. Economists just aren't quite sure where that curve starts to bend backward, or how sharply it bends" (318). Take United States as an example: it's one of the richest country in world, however people here are also work twice as hard than other countries. If the trend continues, people would work longer and longer in the future, and at one certain point, they would stop. "Productivity growth gives us choices. We can continue to work the same amount while producing more. Or we can produce the same amount by work less. Or we can strike some balance" (318). Make a long story short, it's our own responsibility for choosing the right amount of work we do everyday, so start to make wise decisions.
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