Larry Page: Maybe we should all be part-time workers

What if everyone were a part-time worker?

Google founder and CEO Larry Page has a fascinating take on the future of our labor market. In a just-posted video from a recent appearance, Page cites the fact that 90% of the population were farmers in 1900 and, by 2000, just 2% were – so we shouldn’t be shocked about the prospect of a major shift in the structure of the labor force.

The below is an excerpt from Page’s chat, via Liz Gannes at Recode:

Vinod Khosla, interviewer and long-time technology investor who tried to buy Google when it first started: The vast majority of employment shifted from farming to only needing about 2 percent of the U.S. workforce. That happened between 1900 and the year 2000. I see the beginnings of that happening again with the rapid acceleration the next 10, 15, 20 years.

Page: I totally believe we should be living in a time of abundance, like the Peter Diamandis book. If you really think about the things that you need to make yourself happy: housing, security, opportunity for your kids. I mean, anthropologists have identified these things. It’s not that hard for us to provide those things. The amount of resources we need to do that, the amount of work that actually needs to go into that is pretty small. I’m guessing less than 1 percent at the moment. So the idea that everyone needs to work frantically to meet people’s needs is just not true. I do think there’s a problem that we don’t recognize that. I think there’s also a social problem that a lot of people aren’t happy if they don’t have anything to do. So we need to give people things to do. You need to feel like you’re needed, wanted and have something productive to do. But I think the mix with that and the industries we actually need and so on are– there’s not a good correspondence. That’s why we’re busy destroying the environment and doing other things, maybe we don’t need to be doing. So I’m pretty worried until we figure that out, we’re not going to have a good outcome. One thing, I was just talking to Richard Branson about this. They have a huge problem that don’t have enough jobs in the UK. So he’s been trying to get people to hire two part-time people instead of one full-time. So at least, the young people can have a half-time job rather than no job. And it’s a slightly greater cost for employers. I was thinking, the extension of that is you have global unemployment or widespread unemployment. You just reduce work time. Everyone I’ve asked — I’ve asked a lot of people about this. Maybe not you guys, but most people, if I ask them, “Would you like an extra week of vacation?” They raise their hands, 100 percent of the people. “Two weeks [of vacation], or a four-day work week?” Everyone will raise their hand. Most people like working, but they’d also like to have more time with their family or to do their own interests. So that would be one way to deal with the problem, is if you had a coordinated way to just reduce the work week. And then, if you had slightly less employment, you can adjust and people will still have jobs.

I’d take an extra week of vacation but would probably spend most of it doing something work related – directly or indirectly, anyway.

Source:

The Future of the Workforce May Be Part-Time, Says Google CEO Larry Page (Recode)

 

This content, which contains security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own advisers as to legal, business, tax, and other related matters concerning any investment.

The commentary in this “post” (including any related blog, podcasts, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Ritholtz Wealth Management employees providing such comments, and should not be regarded the views of Ritholtz Wealth Management LLC. or its respective affiliates or as a description of advisory services provided by Ritholtz Wealth Management or performance returns of any Ritholtz Wealth Management Investments client.

References to any securities or digital assets, or performance data, are for illustrative purposes only and do not constitute an investment recommendation or offer to provide investment advisory services. Charts and graphs provided within are for informational purposes solely and should not be relied upon when making any investment decision. Past performance is not indicative of future results. The content speaks only as of the date indicated. Any projections, estimates, forecasts, targets, prospects, and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others.

Wealthcast Media, an affiliate of Ritholtz Wealth Management, receives payment from various entities for advertisements in affiliated podcasts, blogs and emails. Inclusion of such advertisements does not constitute or imply endorsement, sponsorship or recommendation thereof, or any affiliation therewith, by the Content Creator or by Ritholtz Wealth Management or any of its employees. Investments in securities involve the risk of loss. For additional advertisement disclaimers see here: https://www.ritholtzwealth.com/advertising-disclaimers

Please see disclosures here.

What's been said:

Discussions found on the web
  1. Darrell commented on Nov 20

    .

    ñïñ çà èíôó!!

  2. w88 commented on Sep 21

    … [Trackback]

    […] Information on that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  3. 먹튀검증 commented on Sep 26

    … [Trackback]

    […] Information to that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  4. 안전놀이터 commented on Oct 17

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  5. love doll commented on Oct 30

    … [Trackback]

    […] Info on that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  6. Intelligent automation commented on Nov 13

    … [Trackback]

    […] Read More on that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  7. td canada easyweb commented on Nov 26

    … [Trackback]

    […] Find More on that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  8. tangerine sign in commented on Nov 26

    … [Trackback]

    […] Info to that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  9. toto hk commented on Dec 01

    … [Trackback]

    […] Read More here on that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  10. devops commented on Dec 10

    … [Trackback]

    […] Find More Info here to that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  11. 사설토토 commented on Dec 12

    … [Trackback]

    […] Here you can find 23443 additional Info on that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  12. rolex replica commented on Dec 17

    … [Trackback]

    […] Read More here on that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  13. 토토 commented on Dec 25

    … [Trackback]

    […] Read More Information here to that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  14. Skrota bilen betalt Uddevalla commented on Dec 26

    … [Trackback]

    […] Find More Info here to that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]

  15. rbc bank account commented on Jan 03

    … [Trackback]

    […] Read More Info here to that Topic: thereformedbroker.com/2014/07/06/larry-page-maybe-we-should-all-be-part-time-workers/ […]