Why are we still working this hard?

The forty-hour workweek, enshrined in American law since 1938, has remained unchanged despite output per hour of labor doubling. Despite this productivity leap, Americans now labor sixteen hours to achieve what once took a mere forty. In 1973, economist John Maynard Keynes predicted that, with technological advancements, future generations would enjoy vastly increased prosperity with far fewer hours of labor.

However, his vision has not materialized. Instead, the 24 hours saved from increased output have not been translated into a reduction of work hours. Instead, the majority of these gains have accrued to owners of capital, with little impact on the wages of workers.