Do we work too hard?

One constraint 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 2000 hours per year compared to 1700 hours per year in France and Germany.

QUESTION 1:Should US laws be changed to require a shorter work week and longer vacation time?

For each side of the question list three strong arguments. Use the following concepts from the chapter at least once andBold orunderline the terms. This information is discussed in the text book and in the Lecture for Chapter 1. These items should be used in context within your paper. You should be defining them as you explain how it relates to the topic.

1. Production possibilities curve
2. Economic growth
3. Market mechanism
4. Market failure