- Jun 2021
A Harvard Business Review survey found that 62 percent of high-earning individuals work over 50 hours a week, more than a third work over 60 hours a week, and one in 10 work over 80 hours a week. According to Markovits, elites today work an average of 12 more hours per week than middle-class workers (the equivalent of 1.5 additional workdays).
This may be the case for high-earners, but where do these people sit with respect to the higher elite or "leisure class"?
Are these hard working high-earners a new class of people that has emerged that aren't the previous elite of the mid-1900s?
What effect does the rise of finacialization (versus manufacturing or service sectors) since the 1970's have on this shift? Did these high-earners arise out of a hole in the market to service the elites on the highest rung up to make their wealth grow faster?
There seems to be a hole in this argument with respect to the prior quote:
Fifty, 60, 70 years ago, you could tell how poor somebody was by how hard they worked. Today, that relationship has been completely reversed. Elites work for a living. They work harder than they used to. They work harder in terms of brute hours than the middle class on average, and they get most of their income by working.