Required Vacation
In: Employment| US Economy
31 Jan 2010USA compared to other OECD countries. (Yes, we’re screwed).
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4 Responses to Required Vacation
Nacim
January 31st, 2010 at 8:27 pm
If the law suddenly mandated more paid holidays, why wouldn’t your salary adjust to the lower working hours you would now be contributing?
Johannes
February 1st, 2010 at 6:00 am
@Nacim: because the term “paid holidays” doesn’t apply anymore then?
Dustin
February 1st, 2010 at 8:37 am
and because labor markets don’t price things as efficiently in the real world as economists might like to believe.
LoneSnark
February 1st, 2010 at 3:46 pm
Dustin, good point. As such, it is quite likely that mandatory paid leave would result in salaries being slashed far more than could ever be justified.
That, and it would be largely irrelevant. While paid leave is not required by law, most workers negotiate for it anyway. And even that is a silly concept; just because time off is unpaid does not mean you cannot take time off. American wages are significantly higher than our European peers in France/etc, so we are perfectly capable of buying free time if we wanted too.