Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre . . . . . . . . . . . . . email: jpalmer at uwo dot ca

. . . . . . . . . . .Richard Posner should be awarded the next Nobel Prize in Economics . . . . . . . . . . . .

Saturday, February 05, 2005

The Socionomology of the
Work-Leisure Trade-off

The Onion has a great spoof of leisure studies:

BOSTON—According to a report released Monday by Boston University's School of Lifestyle Management, more than 180 trillion leisure hours were lost to work in 2004.

"The majority of American adults find work cutting into the middle of their days—exactly when leisure is most effective," said Adam Bernhardt, the Boston University sociology professor who headed the study. "The hours between 9 a.m. and 6 p.m. are ideally suited to browsing stores, dozing in front of the television, and finishing the morning paper. Daytime hours are also the warmest and sunniest of the day, making them perfect for outdoor activities. Unfortunately, most Americans can't enjoy leisure during this time, for the simple reason that they're 'at work.'"

...The report's internals reveal that full-time workers are hit hardest, with part-time workers coming in a close second, and freelancers marking a distant third.

"Ironically, the unemployed fared the best in this report," Kletter said. "One of the questions that remains unanswered, unfortunately, is how jobless citizens' high number of available leisure hours somehow fails to translate into overall happiness."

Read the whole thing. It's a great study in opportunity costs.
It looks as if they missed some academics in their study. [H/t to Jack]
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