Paul Krugman today, quadrupling down on the claim that any reduction in working hours resulting from the Affordable Care Act ("Obamacare") incentives is a good thing:
Labor compensation would fall less, around 1 percent, because the reduction in hours would be skewed toward the less well paid ... When workers choose to work less, by contrast, they presumably do so because they gain something that is, to them, worth more than the foregone income: more time with their children, an earlier retirement, etc.
Isn't America a remarkable place, that so many low paid workers were already just one tilt in the incentive structure away from being able to spend more time with their children, retire earlier, etc!
Labor compensation would fall less, around 1 percent, because the reduction in hours would be skewed toward the less well paid ... When workers choose to work less, by contrast, they presumably do so because they gain something that is, to them, worth more than the foregone income: more time with their children, an earlier retirement, etc.
Isn't America a remarkable place, that so many low paid workers were already just one tilt in the incentive structure away from being able to spend more time with their children, retire earlier, etc!