No, Freddie. This Is One Problem We Don’t Need to Worry About. 

In this piece, Freddie deBoer joins a conversation about whether America’s elite college students may be hurting themselves by being too competitive.

So… this is a problem? Something that needs to be fixed?

No!

The labor issue Freddie and others should be worried about is not that a small slice at the top is working so very hard, but that a very large slice of the working population in the middle is not working harder. For various reasons (including technology), per capita productivity in the US is going down. That will eventually result in a lower GDP and a lower per capita income.

This is another example of how so many perfectly smart and educated people acquire beliefs about the economy that they wouldn’t consider applying to themselves or their children. Don’t have enough money to pay for that fancy new pair of sneakers? Work more hours or get a better-paying job!

Click here.