Workwise
Workaholics deconstructed
Vickie Elmer

Some workaholics find it as difficult to cut back their hours as shopaholics do to trim their spending, even though their behaviour can damage health and home life. Workaholics believe they make rational decisions about the time they put in but may misjudge costs and benefits, says Joel Slemrod of the University of Michigan, who with Daniel Hamermesh, of the University of Texas, recently wrote a paper on the subject for the National Bureau of Economic Research.

Workaholism, the economists say, is acquired early in a career and shows up as more hours. Workaholics skew the money-for-effort equation. Some even delay retirement.

"Both of us certainly struggle with this," says Slemrod. "In my business, it’s a badge of honor to say you’re too busy."

They maintain that most people, even workaholics, labor primarily for the financial returns. So, workaholism might be curbed by tax-structure changes, such as those that seek to discourage smoking, Slemrod argues. The authors call for more research on workaholism — and whether shopaholics are more likely to be workaholics.

— LA Times-Washington Post