1. To work or not to work? Do people prefer leisure to work? Different preferences around the world. Dave Van Calster & Jonas Van Riel

2. Historical Evolution

3. Differences in economic evolution Hours of work Standard of living Poor Rich

4. Backward-bending supply of labour - Income effect: Higher wage, work less - Substitution effect: Higher wage, work more

5. Different preferences in different countries

6. Evolution Part-time Europe : 1) 40% prefer fewer hours over a higher pay 2) 70% of the part-time workers prefer part-time hours United States : Stronger preference for: 1) a higher pay 2) Full-time hours Part-time ’99 : 13% America, 15% France, 17% Germany, 23% U.K. and 30% Netherlands Conclusion : Europeans like leisure more than the Americans

7. Productivity, employment rate and net income per country

8. Happiness and unemployment per country + solutions Unemployment makes people unhappy and poor! Since ’70 upward trend in happiness, income increased much more  More money in rich economies does not make people happier Solutions: France: workweek maximum 35 hours.  Workers happier + extra jobs Money doesn’t buy happiness, it’s a precondition for it!