Earlier quoted context omitted.
Sure, productivity increase is hugely important, but if you only pursue profit maximization, then all the productivity increase goes into profits, which means that the general population doesn't increase their well being much if at all. The 40hr work week didn't come by as a consequence of the profit maximization mentality, but as a consequence of hard fought battles by the workers/employees against that mentality. A…
The Law of Supply and Demand is in play, and it means a company cannot dictate prices, wages, or working conditions in a free market economy. Rising productivity would have reduced the average work week regardless. If you still aren't convinced, consider that the benefits package routinely offered to employees is worth around 40% of their pay.
Do you have evidence of this?
> consider that the benefits package routinely offered to employees is worth around 40% of their pay
Please define "routinely" and "employees". Part-time employees do not get benefits packages, much less benefits packages worth 40% of their pay. PTO, Sick time, family leave, and other "benefits" are actually legally mandated and I do not see any evidence that companies would offer this if they were not mandated to do so.