Sunday, June 29, 2008

Surprise: Rich People Work More

Who knew? (Washington Post):

People who make less than $20,000 a year, for example, told Kahneman and his colleagues that they spend more than a third of their time in passive leisure -- watching television, for example. Those making more than $100,000 spent less than one-fifth of their time in this way -- putting their legs up and relaxing. Rich people spent much more time commuting and engaging in activities that were required as opposed to optional. The richest people spent nearly twice as much time as the poorest people in leisure activities that were active, structured and often stressful -- shopping, child care and exercise.
Update: I changed the title from "rich people work harder" to just "more" since I guess it's possible that rich people aren't as productive during that time though I have my doubts.

Update #2 (07.07.04): Greg Mankiw blogs about the study and points out that people who make over 100K in the US aren't really "rich", they're just affluent.

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