I don't want to put quite that fine a point on it, but generally I agree. I think people see that wages have been stagnant for a long time and spending power has gone down. Working harder gives them marginal, if any, life improvement. I'm reminded of the Lithuanian immigrant character Jurgis Rudkus from Upton Sinclair's "The Jungle", whose response to continual setbacks was "I will work harder", only to ultimately be ground down and devoured by a job and life circumstances that could never be sated no matter how hard he worked.