ABSTRACT
This chapter examines key economic concepts and theories relevant to the work/leisure issue. First the work/leisure, or paid-work-time/non-paid-work-time, trade-off is examined at the theoretical level. Given the complexity of tracking paid-work time across the variety of male, female and full-time and part-time workers, it is concluded that total paid work per capita – or ‘social effort’ – is a more useful measure to use, and examples are given. The chapter also contains discussions of the labour theory of value and the universal basic income idea.
