Niall Ferguson Quotes
Today, the average Korean works a thousand hours more a year than the average German. A thousand. ... That is the end of the Great Divergence.
Ferguson, Niall. Civilization: The West and the Rest. Penguin Press, 2011.
The left has always been ambivalent about automation. Many object to it on the grounds that it puts men out of work. However, others such as Lafage, argued that automation was the only economic way to reform the working hours and conditions of labor. The problem at the time was that as long as labor was so cheap, there was no motivation for the manufacturer to invest in better machinery. He and many others argued that minimum wages and their increases increase productivity because it would force manufacturers to invest in more productive equipment to reduce their labor costs.
This is one of the earliest calls for the 8 hour work day.
Niall Campbell Ferguson is a Scottish historian and the Milbank Family Senior Fellow at the Hoover Institution at Stanford University. Previously, he was a professor at Harvard University, the London School of Economics and New York University, visiting professor at New College of the Humanities and senior research fellow at Jesus College, Oxford.