Shortening the work week from 5 to 3 days would reduce the labor supply for corporations and would therefore reduce production. This, in turn, would reduce the incomes of households, which would reduce consumption. Together, these forces would reduce both aggregate supply and aggregate demand, causing an increase in the output gap and in unemployment. The reduction in labor would also decrease the marginal revenue companies could earn from increased capital, thus decreasing the real interest rate and driving investment out of the United States.
I happen to like Mr. Carlos' idea of the three day work week. I feel it would allow workers to be more productive at their jobs, would improve overall productively (it would allow better planning of work flows), and would improve the overall feelings of the US workforce. People would get to spend more time with family and doing things they enjoy on their off days.
The economy of the United Sttes does what it does because of forces that are outside of the control and probably beyond the understanding of most of us. So since people are already working staggered hours or are underemployed, it probably would not make a lot of difference to officially shorten the work week.
Both of the latter are beneficial for the economy, and productivity for service oriented jobs is not the be-all-end-all of the supply side.
Certain industries would benefit greatly from a three day work week, however others would still need to operate daily.
It would be better to have dual shifts work two alternative 3-day work weeks, with a single, communal day off.
Again, only for certain industries. Service industries specifically.
If I got paid the same amount of money on salary working for 3 days instead of 5 it would positively impact the economy because I could be out spending that money with my family instead of sitting in a chair waiting for hours to pass. Not to mention, if I have 2 jobs, I have much more money coming in - but no time to spend it.
I hav looked over Carlos Slims "radical overhaul" and I have to say it does intrigue me. He has many valid points but to be honest it sounds a little to much like a "throw some duct tape on it" brand of solution. I don't believe that the three day work week would necessarily have a negative effect on our economy but I also don't believe its the solution we've all been waiting for.