WWL>Topics>>Think Tank 1010am 3 Day Work Weeks

Think Tank 1010am 3 Day Work Weeks

Aug 16, 2016|

A 3-day work week! That’s the idea of the world’s second richest man.  Would you take a 3 day work week with the same pay?  Would you trust you wouldn’t be replaced? This hours guest: Dr. Jose Bautista - Economics Professor in the Division of Business-Xavier University Leo Krasnozhon - Assistant Professor of Economics, College of Business, Loyola University]

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Automatically Generated Transcript (may not be 100% accurate)

Are welcome back to you thing tanker of course twelve noon. We'll continue our uploading a big through organ to auctions have concluded two. Doctor Charles boost on the current congressman from Latin Pia. I think he's been up in Aaron Gould troops with the governor looking at all parishes soon. You should have been over abuse to work going on at this point and what were preaching down the road. In the meantime will will would take a little bit break from the cloud coverage and come right back to 11 o'clock. Talk about marijuana again the that the federal government came new patiently said. Marijuana be music category one very dangerous stroke. And they're gonna keep it illegal. So we're gonna talk to a couple of experts on that and and ask questions about. So. The states. That the feds know. Horry illegally. Selling. Pot allowed to do it because users state says there was legal in their state. And many more things. To our something. A discounted all the reading dune. I hit. Number report. All over the world and in particular because of her lord sampled saudis don't side. A reserve group and archery in Japan and that came out promoting. A three day workweek. And what are ready quite frankly. Lou and so it would never work for businesses and several were put the economy and but then. I bread and then these the world's second richest businessman. Living and coal car loans slim. In Mexico. Who is. Richer than Warren Buffett and just short of Bill Gates. Wants a three new work week for his businesses in the as a massive empire. And he's making an argument boy it's a good idea and not bode well. Let's talk to assume economists latched on to some academics. She brought they'd think it was always. Our daughter who's a doctor who's a big trees economics profession. Dude division business at Xavier University doctor good to commute. They're good or. Bob for a good thing to do as specifically to what what do you think overall. What of this whole con. Well it. It's an issue that sounds you know sound and by year. Period employee. Bit tree that major courtship here is. It gets me is going to be you know a cultural and you know goat productivity go up. As a result of only having are treated were police recovered. People fear that they are going to be you know replaceable. Literally were treated easily. You know when they come back. After having forty's it'll what are welfare but jobs shall be there there. Where we pretty easily replaceable. Oral well productivity goes down because you know is there a mind to do you. You're and paid for. Pretty greatly. Anyway it's hard work and to their poor you do that's where. You know a lot of you know out of those issues comment and you know if it accurately. Content on you know these the culture of the year of the workplace. And you know and and you know their services where. It has business apparently. You know Europeans of built in you know work ethic gala. Not hurt people. You know in the same Saudi was mentioning and through in Japan and Dave and they'd do who's studied that I owned. Over forty year old brains. Have trouble handling. In the comes stretched past forty hour weapons and the pro on the continent looms performed some people reporting improved. There's no word during the week in two of they breached about twenty Prague's outwards. There began to fail due to fatigue and mixed and endless rows. And I just wonder if businesses. You even though this is a crazy idea right now. As we move to and fewer employees more automation and more people Walking Dead working at home. More driver loose cars. Let weren't being down down down town in the business route into. I just wonder of if businesses might be open to. It would do two things. It would allow older people don't work longer. And said retiring. Earlier backcourt was slim. Points. In his company. If you'd retired from the time he started. He could retired after 22 years. But. He had a whole lot more to get. And the reason he's doing this is thinking is employees. In particular. Those ones with the historic memory. The experience and would in Dublin working longer. And the Ford days. Would be filled by young people they can't get into the job market at Macon accent. The message does. And a lot of it comes into your races. Regions a trend. Kind and so collections. You know. You are gonna work more you know if you if you're on a three day work week and you know oh a lot of in the function of you know Corey working for you know if you were entered shall a year survivability. Is is is a function of while you're gonna take it you know you're gonna. Indigo and and and church that. That. You know that work ethic you know somewhat somewhat more because regain your work he warrior. Your interest so. If you're working for somebody else but you know there is saying there is that there it is you're four. Some sort of a proper cherry Miller you know ownership. For the employees. And try and get. Again here's the opportunity for. Or you know publicity and sure I'll work more I'll be more I'll be productive. On the other hand you have the actuarial about you know entry level employee. Those who are working you know whatever whatever minimum wage. Who don't have a stake in the company. You know I agree. You know I'll make you feel going to be you know when they're told OK. That predate we can go over go you know buying and then. You know the court you mark Egan right. Will they have their you know in chapter or your partner for this you know take. It's it's a question and each on her tour. Each. Industry. Well have a different scenario. Four. You know seeing how that picture here. Aren't stay with me concurrent reduced conversation. Kind of strange Woburn we're talking about a three day were poorly. But it's a suddenly being broached all over the world can day how many articles I've seen him on that. And in particular of this mega rich guy and Mexico. Really pushing through new work Wiggins his company's. In front encouragement around the world come right back governor of the. We're born think about a subject admittedly. That. When you perjured Tuesday co lawn I certainly do. But I'm reading reported colds all of those the world on this subject do I keep hitting them. And I think it's mainly because. To really surge units of both shrewdly in Japan and did pretty big sample studied that said look. When the hitter of forty. You hid. 303540. Hours. You're you're not able to do your best anymore. And and that that was interests and would soon enough to do Michaud. But guy by the name of Carlos Slim mostly Glidden a burdens. Second richest man in the world you know I had Warren Buffett. And what he wants in his state Q is huge. Conglomerate. Of businesses and put them on the reader of work we. So I served well the point of the year world's richest men that understands ammonium sincere compliment. We've talked to meg com lists and we've got the doctor who's had trees through with the Xavier university and a doctor bureau mom what goes through some of the room. Bold opponents on blood. Carlos Slim is is sending. These are short of where report observes solution to civilizations. Ships. And he says historically. The more technology advances. The more progress there it is people were collapse. Of what you thought told them. Well. See that's what's what's being tested here is. What what economists refer to it there. You know the labor supply acre where again simply. People will work you know an increased number of hours. People applying more labor you know given not given a higher wage. Okay may you'd take that and people work up until a certain amount of time during the week. Now if you get the point where you go beyond late at stake today standard. Five day forty hour week you go beyond that. That that forty hours and the east side infringing upon. Your leisure time. Thing you say utility player okay I'll work for you. Beyond. But he appearing anymore. Well what if that you know that bit of the workweek it's no compressed. And you know the entrepreneur Horry is is it successful and he is being there's an increase in gain in orders for whatever their product is and so therefore that that mandates via the owner of the business. Did to go to the employees and say you know I needed to work more. And Agassi OK well now you know I'm. You can't you can have me work for five days a week at the same papers now the work we only three days. In my in my overtime domestic kicking after three days. And so therefore you know which is that infringe on me you know the port. Put you know pressure on the cost of the of the business and therefore you know decrease as the profit margins. And you know it becomes your becomes a very interesting question whether or not. After a three day week there are people who are going to say yeah sure you know working extra two days you know for. Yes and it gets for the just for the overtime because again. I'm used to working five days a week. So again you know into the into the kind of issue is that. You know global come out. In some places more than others. But definitely it's something that definitely has to be thought. And the Sloan was asked that and he said. Dude the company is that can take this on new ones in which productivity. Has led to excess personnel. It's a great change through exchange pure days of world. Four more years. Until retirement. And the question of course would people earn left this way what are your thoughts there. Yes and so if people are people are waiting let her partner are earning less. Then they're gonna think getting used to supplement to let. Note you know what they have to a earned four or for their own purposes you know for its and to maintain their lifestyle or again. Two. Even even go beyond their means and failure of the question here right is is okay you're here only having me work. Three days to weeks of air force that gives me another two days at least. To work force somebody else or work work for myself. Will this. Spurring a sensible entrepreneurship. Mountain upon people who. Who who who now only work a three day week well again the other factor there are going to. KK leaders such as. You know what is the status of the of the financial markets you know okay. I want to apple this time to be an entrepreneur now but you know if financial markets continue to be is strictly regulated as they are. And you know banks put tight restrictions on terms. You know who they loan now to then. Again you that that's gonna put a damper on people who want to. Work for themselves but you are not able to in our venture capitalists can be around to say okay. Yeah is this the true onto brewer he's just doing it because. You know he had some extra time. You know and therefore makes via. Makes the business venture elect more risky than one easily you know going going attic you know on fulltime basis. Yes is it something when a virtual dead and so bullets. Crazy it's cuckoo but. The more read about it immediately leave essentially little kernels of possibility. Doctor good tease though always a pleasure to have beyond thank you Brooke calling and have a good Tuesday. At the pleasure is mine thank you very much there. Dub dub DOD news Sunday of course. And like that was strange subject to be thinking about but the reason. Abroad as. We're talking about. Proposals of the reader you were put. Is I've read publications. All of the world and regular basis I keep seeing that story. And I think it comes about two big group search groups of Japan and I'm sure you put your big sampling. Saying that as. Hours civilization. Moves it acts but in actual speed in changes. Are coming at X but in truth speed. They're number of reasons to to think about doing this for businesses. That could as a unit. And I've discounted it borrowed. I hit Bloomberg business week and it was an article within an interview by a gentleman by the name of coral whose slim. And of you know it is his second. Riches men in the world even more than Warren Buffett. And here's one that is pushing this in particular with the huge conglomerates. That he controlled. So. Every Gabor the world's top business people excellent does is not only good idea of what it's doing much for the future. So let's talk to economists. That know about these things. Like in Upton about legal crows and auctioned that I get that bright. I should get a store or lollipop. Something. That's more difficult than Robinette. It's a joke or did you. Professor of economics college of business at an oil one. Oh we will thank you Jordan is all moral what what are your thoughts about the subject. Crazy. Or maybe something to it in the future. Alter or go to change people heaven here on your role at all not. So what do I think about it it's critical. You know the tort law school. Talk decided who. Talk about it. Mean it social scientists spoke the bald Butte great view of reducing. And organize our. Kim is doing well actually it's the on the Sorrell being so room. And don't depend on. Increases in the all labor that he's the bulk of the crown off. State of the economy and market forces. Soul. In the continent I'm gonna be able. Billions of all right I'm gonna. And we're going to be able. Could you straight answer I have who look at all possible law. Explanations. Subtle role I think could do it agreed that he would interest in our own. And why don't we don't let it be oh. Let him go over the country and he should be less quality because he's asked that he be New York. I don't know like one hour was he would go to. And let me give you some of the bullet point said shall Lim talked about it. When it was actually. Era of tell tell you why are you doing this some or your business and sit. Shorter work weeks are solutions of civilization we'll ships historically. The more technology advances in the moral progress there is people worked layouts. And I'd totally forgotten this book back in history. People were 72. Then they cut down to sixty hours. And then they cut down to a 48 hour work where he. And then the English. Started the forty hour work week. That that doesn't suggest. As technology improves his civilization. Advances. That there there that we are working. Right. Yeah what completed correct. About the music historically that. Beyond the last technologies and treason because opera that you do is increase and so we can actually accomplished more and more up and but. Actually in Houston that. It's not. It's it's been a team like that for a long time but recently for example in there. The United States senate who beat patrols that. There is no different change right now going well. For example. While the American member actually working more than 48 hours thirty. And of these shares actually increase in the relative tool. Being a year ago or renewed like here's the goal. And the B it is strange to mom highly indeed needed. American man. And these vehicles were among. Manned vehicles older man and on the highly beat. On the other Arab bigotry even. People in the lower income. One they actually nor can laugh. In this season it is college in its current looked decent low bit rate or the DNC that dual or a couple of follow up actually brought in more than use of corporate art years ago from a lot of technical and left. All right good momentary break here actually women. Think of got a couple interesting questions concerning. Just beginning to be talked about worldwide through their work with. Nothing may come out of that put I think there's some interesting points as to why. It may have to be. Double the yep throwing subject. Potential and there were deployed again is C articles written about all of the world. As it's that thing primarily because Richardson. Three year and Japan. But the world's second richest men it is pushing through three you know work week and all of does Google Cameron's. And awkward talk to a congress who would they think and we have boom you pros are Asian. Professor economics college of business at long ago. Professor of here's world things slimmed says. People should retire later. Because they've got more knowledge more valuable to company. And working through two when he reached base for others. You just mentioned. The V educator working more. Those bullets and he's from working it's. And I've got an acquaintance. That houses and that has five degrees. And cannot find the job. Of god. I don't know how many of the parents. Kid returning home from college. With the degrees. Cannot find a job working its board tendered working. Whatever. And would have that thought. Wouldn't this dude Tuesday its give them Melinda yields. Foothold. In the business world would they could grow. And two. Wouldn't even it would and even helped Social Security a little bit. Because this elderly huge baby boomer. Group to have that full pushing through Social Security. Is being supported by the Melinda goals you're your thoughts. Off well let me raise them you can point well. Bolt of very important issues should make intranet. Everybody get dropped. And also trying to what the Social Security crisis. I'm home. Definitely. Alone people. Decide apparently there and it couldn't be easier Social Security's. What. And change and RD nor Greek street be appropriate. It's bound and change the G. It is slander them. Leans proposal correctly. You picture book ball the rules. Goran rule chrome all forty or thirty Bart are. Or who reviewed that there are 33 hour drive it on the Barbie and it. Mandel tomorrow Wednesday. Yeah yeah that would is that right Margaret who they. Eleven well our debate right. Beat PG not put him bought the contingent or tried a couple of changes in the hour. Parole mall ordered Thursday. They can choose to do but couldn't beat you keep the couple has been that they don't me than me. Personal Cole while you're at or on budget people too much that's and that that oral or deeper. But. That bought the use Leo. I don't feel are good you borrow it one. And are dropped to create jobs don't pay agreed to. Interpret nor can create jobs. Markets create jobs won't just treat control nor can forty hours two hours before our third arc arc is that the public created drop because. I'm still going to be. People between what I. What are coupled with the news in the what I don't support the peace and forty hour some would be doing these in their report. Seoul. My job will be will be. Performed by media now is there is no publicly acknowledge when you want real. So I don't be artful the problem problem on important. Or did Limbaugh limb limb removed wave from the you know the redo the ideal morning as something doses it is absolutely give me. I think. Understands. X but in actual growth. Started out slowly moves kind of slowly on the on them on our hockey is big curb. And the putting hits in the on the hockey stick it goes at warp speed. What do you think they've cut who's gonna do win. We can work from home when we have bribery lose car and when parking lots are needed. If everything seems to be moving there REIT quickly. To change. Do you think will be able to sustain it as a society won't be able to would jumps to. All the world yet little. Look he crucial right. People about the changes is. Really well and move it upon changes right oh record and life flow. I'm sure. You people law driving holes are but I I actually held fourth drive driver. Who it is up to fumble on. And bark a lot I now satellite parking lot I always wonder whether poker on. Don't roam the Albanian edu and why you weren't prepared students. He gave it to barking car. Rather thorough and fortunately I have skewed question run into the show let me get back on the and talk about just that. What he's in the pew troop. For the economy where its home and lead changes. In the world plays. In the economy itself. In worldwide globalization. Professor thank you so much for the time now have a good day. Although I think so much in an unusual. We'll talk to again. Nobody audio stabilization would come and go right back. Our I do not go in view of federal government once again they did. Good fuel. Merrill bought is. Category one. Substance bill read dangerous drug. Will not be legalized. Even for medicinal purposes. Well think about that some more recombinant products but rubio. Begin at 7 AM Monroe 53 at for an.