Rich people are now working longer hours than poor people in US

3 Sep, 2008 | TdpSnippets

For some reason my mum, dad, brother and I seem to keep getting in arguments about who works longest/hardest, which is stupid when you think about it.

This is a stunning moment in economic history: At one time we worked hard so that someday we (or our children) wouldn't have to. Today, the more we earn, the more we work, since the opportunity cost of not working is all the greater (and since the higher we go, the more relatively deprived we feel).

In other words, when we get a raise, instead of using that hard-won money to buy "the good life," we feel even more pressure to work since the shadow costs of not working are all the greater.