productivity stopped working around 1973.Thus,they had to keep working just as much in order to maintain their standard of living
I)What Keynes predicted was a very optimistic version of what economists call technological unemployment. This is the idea that less labor will be necessary because machines can do somuch.In Keynes's vision,the resulting unemployment would be distributed more or less evenly across society in the form of increased leisure.But Friedman says that,for Americans,reality is much darker.Americans now have a labor market in which millions of people—those with fewer skills and less education—are seeking whatever poorly paid work they can get.This is confirmed by a recent poll that found that,for half of hourly workers,their top concern is not that they work too much but that they work too little.This is most likely not because they like