JessicaRulestheUniverse.com

This goes out to my sister, who is in the office twelve hours a day, is raising three kids and taking her MBA on weekends. Just reading her schedule makes me tired.

One possibility is that we have all got stuck on a treadmill. Technology and globalisation mean that an increasing number of good jobs are winner-take-most competitions. Banks and law firms amass extraordinary financial returns, directors and partners within those firms make colossal salaries, and the route to those coveted positions lies through years of round-the-clock work. The number of firms with global reach, and of tech start-ups that dominate a market niche, is limited. Securing a place near the top of the income spectrum in such a firm, and remaining in it, is a matter of constant struggle and competition. Meanwhile the technological forces that enable a few elite firms to become dominant also allow work, in the form of those constantly pinging emails, to follow us everywhere.

This relentless competition increases the need to earn high salaries, for as well-paid people cluster together they bid up the price of the resources for which they compete. In the brainpower-heavy cities where most of them live, getting on the property ladder requires the sort of sum that can be built up only through long hours in an important job. Then there is conspicuous consumption: the need to have a great-looking car and a home out of Interiors magazine, the competition to place children in good (that is, private) schools, the need to maintain a coterie of domestic workers – you mean you don’t have a personal shopper? And so on, and on.

Read it in The Economist.