Adding on to the points about elasticity, arguably states with welfare systems already enable people to work very few hours in line with predictions, it just requires navigating benefit programs and being content with living standards that make one low status in the eyes of others. It might not be unreasonable to say that most of elasticity is driven by status needs and a desire to keep up with others rather than be content with less.
Adding on to the points about elasticity, arguably states with welfare systems already enable people to work very few hours in line with predictions, it just requires navigating benefit programs and being content with living standards that make one low status in the eyes of others. It might not be unreasonable to say that most of elasticity is driven by status needs and a desire to keep up with others rather than be content with less.