Economic growth DQs

One of the limiting resources in our economy is time. As a society, we make choices about the allocation of time between work and other pursuits. In the US, most workers are eligible for overtime pay if they work more than 40 hours a week, whereas most European workers become eligible at 35 hours per week. In addition, workers in Europe have guaranteed vacation time—five weeks in France—a benefit not available in the US. As a result, the typical US worker puts in about 2,000 hours per year compared to 1,700 hours per year in France and Germany.

Should US laws be changed to require a shorter work week and longer vacation time?

For each side of the question list at least three strong arguments. You can use concepts from previous chapters, some examples are listed below.

Production possibilities curve
Economic growth
Market mechanism
Market failure