Explore Wealth and Income Inequality in the World Wealth and Income Database

Re:Explore Wealth and Income Inequality in the World Wealth ... by kermittd on Wednesday November 08, 2017 @04:03PM (#15657002)

Yep agreed. It also may be possible that the nature of lower paying jobs makes it far more difficult to work extra hours.

As "knowledge" workers if you were treated like minimum wage employees how many hours do you actually work?

5 or 6 is usually the answer given on HN.

Source: Until early teenage years grew up poor. Still fighting the specter of homelessness now.

[ Parent | on HN ]

Re:Explore Wealth and Income Inequality in the World Wealth ... by tuna-piano on Wednesday November 08, 2017 @06:26PM (#15658156)

The other thing is that in life there’s a trade off between leisure time and work time. The more you get paid, the more likely you are to want to work more. If you only make $7 an hour, your opportunity cost for an hour of TV is $7. If you make $100, your opportunity cost is $100.

If course it isn’t that simple, and there are other effects (google the labor s curve), but that’s the general idea.

[ Parent | on HN ]