July 20, 2014
The 74-year-old Telmex CEO, Carlos Slim said that a "radical overhaul" in the way people work would be beneficial by having longer time off each week.
"With three work days a week, we would have more time to relax; for quality of life," Slim said during a recent business conference in Paraguay. "Having four days [off] would be very important to generate new entertainment activities and other ways of being occupied."
Even though Slim, whose net-worth exceeds $80 billion according to Forbes, is making a progressive suggestion about the workweek, it actually makes a lot more sense when you compare it with similar notions about productivity.
Working more makes people less productive. Among the world's top economies, the U.S. is one of the worst offenders when it comes to long workdays, according to data compiled by the Economist and the Organization for Economic Co-operation and Development. As people worked more hours, productivity declined.
The more you work, the more GDP-per-hours-worked descends.
In countries like Germany where people only work 1,400 hours each year, the workforce is 70% more productive than Greeks who average 2,000 hours each year.
Picking up on that trend, Sweden introduced a program in 2014 to lessen the seven-hour-workday to six. Though currently just an experiment, something similar happened in Finland and found success.
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