Economics

Almost anyone can tell you the cost of living has increased between the onset of the pandemic and today. Implying anything else is, as my younger colleagues would say, legit gaslighting, or at least missing the point. Now, in recent months, headline after headline proclaims “inflation has cooled.” But does that mean we are out of the water?

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Output per worker increased by almost 300% between 1950 and 2018 in the U.S. The standard American workweek, meanwhile, has remained unchanged, at about 40 hours.

This paradox is especially notable in the U.S., where the average work year is 1,767 hours compared with 1,354 in Germany, a difference largely due to Americans’ lack of vacation time.

Some

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