Carlos Slim's big idea would never work for me. Real labor reform has to start with a living wage, not fewer hours
Carlos Slim, the second-richest person in the world, revealed himself the other day as an unexpected proponent of radically re-imagining the labor force, in a manner you might expect more from a socialist or a Swede than the Mexican telecom CEO: he says we need a "radical overhaul" of the labor force and should institute a three-day work week.
In America, reduced hours are largely a white-collar issue especially given the ongoing lack of living wages and access to social services for the majority of our workers. If a three-day work week materialized tomorrow, everyone save the highest-salaried workers especially wage-based workers would likely be thrust into poverty.
Continue reading...