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Economics of Leisure - Essay Example

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It means that with the advancement of technology, the populace should have more economic benefits than before. Economic growth should be accompanied by…
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Economics of Leisure
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Economics of Leisure

Download file to see previous pages... He believed that the remaining hours could be in pursuit of writing, printing and innovation. In 1930s, John Maynard Keynes, one of the neo-classical economists predicted that people would only need to work for less than 15 hours in a week by 2030. 84 years after Keynes prediction, it appears that people are working even more hours with the advancement of technology. Questions asked by neo classical economists are whether the trends conform to economic priori as adopted by the classical. The discussion in this paper will negate the notion that advancement in technology associated with economic growth results into high leisure hours. It will also discuss the reasons as to why this happens.
Economic development which entails the advancement of nation’s institutions has leisure at its focal point. Most nations that are on the take off mainly focus on the economic growth and not development. The developed countries on other hand are mainly focused on enhancing the living standards of its people. It means that leisure remains at the focal point. Despite this, people from these countries still have reduced number of leisure hours. There are however a number of reasons that causes increase and reduced working and leisure hour respectively (Gary 2007).
Firstly, the development of technology entails the advancement of consumer goods. Most people are often amazed by new technological advancement such as personal computer, digital camera, internet among other technologies. Therefore, the only way people must maintain this level of technology is to work more hours (Cooke 1994).
Research has proved that people will rarely stop working when they have free time, instead they will yearn to get more. As human makes money, there will be a need to make more. Most people have realised that working faster will give them an opportunity to make more money. Through this, most people have realized that their ability of ...Download file to see next pagesRead More
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