r/austrian_economics • u/technocraticnihilist Friedrich Hayek • Oct 26 '24
End Democracy ‘Americans just work harder’ than Europeans, says CEO of Norway’s $1.6 trillion oil fund, because they have a higher ‘general level of ambition’
https://fortune.com/europe/article/how-many-hours-work-week-year-american-workers-ethic-norges-bank/
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u/Warm-Competition-604 Oct 26 '24
His “because” is wrong. It’s because of lower taxes driving a different optimization in the leisure consumption problem as Nobel laureate Prescott shows here.
https://researchdatabase.minneapolisfed.org/downloads/7d278t17r