Robert Skidelsky on Money, the Good Life, and How Much is Enough

Work-Life

The conversation between Russ Roberts and Robert Skidelsky highlights the need to rethink our work-life balance. Skidelsky argues that societies should not focus solely on productivity but rather on achieving a good life, which includes more leisure time. He references John Maynard Keynes's vision of a future where people work fewer hours due to increased wealth and technological advancements.

When societies became sufficiently rich, they would ease off on work.

--- Robert Skidelsky

Despite increased wealth, work hours have not decreased as Keynes predicted, and Skidelsky suggests spreading leisure more evenly throughout life rather than concentrating it in later years 1 2.

   

Productivity

Skidelsky critiques the modern emphasis on productivity, suggesting it diverts attention from more meaningful life pursuits. He challenges the notion that maximizing utility equates to maximizing consumption, arguing instead for a broader interpretation that includes leisure.

Economists really are the arch priests, high priests of our civilization.

--- Robert Skidelsky

Russ Roberts and Skidelsky discuss how the focus on economic growth and efficiency often overshadows the pursuit of a fulfilling life, echoing Keynes's vision of a world where economic concerns are secondary to living well 1 3.