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2017-08-02    ????:?????±±¨    ?? ??     

The 26m employed Britons earn on average ?ê90 ($112) a day.


Covering the shortfall would cost around ?ê120bn a year, equivalent to the budget of the National Health Service.


The Greens' proposals encounter two problems.


First, the theory.


They argue that the reduced hours worked by some could be redistributed to others in order to lower underemployment.


They thus fall prey to the “lump of labour fallacy”, the notion that there is a fixed amount of work to be done which can be shared out in different ways to create fewer or more jobs.


In fact, if people worked fewer hours, demand would drop, and so fewer working hours would be on offer.


Second, the cost.


Increased productivity could cover some of the costs of paying a five-day wage for a four-day week, suggests Sarah Lyall of the New Economics Foundation, a think-tank.

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She points to a Glasgow marketing company that did just that, and experienced a 30% leap in productivity.


But that is an astonishing increase to expect across the board.


The Greens say they are in the early stages of exploring the idea and have not yet produced firm costings.


It might be useful to do so before next month's local elections.


That leaves little time—but presumably the party's policymakers will raise their productivity accordingly.



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