employees

The idea of a 4-day working week has already captured minds in many places around Europe. Like UBI, it is a devilishly sweet temptation that is almost impossible to resist.

Slovak Prime Minister Robert Fico said at Davos that Slovakia could become a country that will experiment with a four-day working week. It is a flattering topic and so several media immediately picked up on it.

In line with expectations, the tax burden has therefore fallen compared to last year. In absolute terms, the average employee now pays a curious CZK 666 more per month to the state than last year (not adjusted for inflation), but this is only due to the growth in average wages.

Czechs have to hold out for one more month. After June 17, 2022, they will start earning for themselves. Until then, for 167 days, they work only for the state. That makes this year one of the least free since the Liberal Institute has been counting Tax Freedom Day since 2000.

The fact that individuals themselves decide to engage in platform work suggests that they regard some conditions of platform work, such as remuneration and flexible timetables, as more advantageous, and thus more attractive.

In Slovakia, the minimum wage has become a political evergreen of every autumn. However, its growth has been rapidly increasing in recent years. Moreover, the former Slovak prime minister has proposed a new law, which will set the minimum wage at 60% of an average wage of the previous year.

Across Europe, shadow markets constitute a significant portion of the economy. According to some estimates, an average of 16% of GDP in EU member states is generated by the shadow economy.

Countries and organizations have often suggested ideas and changes based on the US economic/healthcare or educational system. Even though there are elements which we can learn from and desire to implement, some other parts of that system might seem much less attractive and desirable.