![]() ![]() Here’s the statement from the 5 economists that was published on the front page of The New York Times. “The country will not have met its responsibility until everyone in the nation is assured an income no less than the officially recognized definition of poverty,” they said in an article published on Richard Nixon was not the most likely candidate to pursue the old utopian dream, but then history sometimes has a strange sense of humor.Īnd thus, in the revolutionary year of 1968, when young demonstrators the world over were taking to the streets, five famous economists – John Kenneth Galbraith, Harold Watts, James Tobin, Paul Samuelson, and Robert Lampman – wrote an open letter to Congress. Among the New Jersey subjects, the rate of high school graduations rose 30%. Among youth included in the experiment, almost all the hours not spent on paid work went into more education. “We’re now self-sufficient, income-earning artists,” she told the researchers. Another woman took acting classes her husband began composing music. For example, one mother who had dropped out of high school worked less in order to earn a degree in psychology and get a job as a researcher. The "declines in hours of paid work were undoubtedly compensated in part by other useful activities, such as search for better jobs or work in the home,” noted the Seattle experiment’s concluding report. ![]() After correcting for this discrepancy, the researchers discovered that the number of hours worked had scarcely decreased at all. In the original study, this was calculated on the basis of self-reported income, but when the data was compared with official government records, it turned out that a significant portion of earnings had gone unreported. Read more about the 1970s experiments on Vox.com. “There is not anywhere near the mass defection the prophets of doom predicted.” The decline in paid work averaged 9% per family, and in every state it was mostly twentysomethings and women with young children who worked less. “The ‘laziness’ contention is just not supported by our findings,” the chief data analyst of the Denver experiment said. Reductions in working hours were limited across the board.
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