We’re ambivalent about work because in our capitalist system it means work-for-pay (wage-labor), not for its own sake. It is what philosophers call an instrumental good, something valuable not in itself but for what we can use it to achieve. For most of us, a paying job is still utterly essential - as masses of unemployed people know all too well. But in our economic system, most of us inevitably see our work as a means to something else: it makes a living, but it doesn’t make a life.

What, then, is work for? Aristotle has a striking answer: “we work to have leisure, on which happiness depends.” This may at first seem absurd. How can we be happy just doing nothing, however sweetly (dolce far niente)? Doesn’t idleness lead to boredom, the life-destroying ennui portrayed in so many novels, at least since “Madame Bovary”?

Everything depends on how we understand leisure. Is it mere idleness, simply doing nothing? Then a life of leisure is at best boring (a lesson of Voltaire’s “Candide”), and at worst terrifying (leaving us, as Pascal says, with nothing to distract from the thought of death). No, the leisure Aristotle has in mind is productive activity enjoyed for its own sake, while work is done for something else.

Given these assumptions, can capitalism help us achieve Aristotelian leisure?

But capitalism as such is not interested in quality of life. It is essentially a system for producing things to sell at a profit, the greater the better. If products sell because they improve the quality of our life, well and good, but it doesn’t in the end matter why they sell. The system works at least as well if a product sells not because it is a genuine contribution to human well-being but because people are falsely persuaded that they should have it. Often, in fact, it’s easier to persuade people to buy something that’s inferior than it is to make something that’s superior. This is why stores are filled with products that cater to fads and insecurities but no real human need.

It would seem, then, that we should increase leisure - and make life more worthwhile - by producing only what makes for better lives. In turn, workers would have the satisfaction of producing things of real value. (For a recent informed and vigorous defense of this view, see Robert and Edward Skidelsky, How Much Is Enough?)

But this raises the essential question: who decides what is of real value? The capitalist system’s own answer is consumers, free to buy whatever they want in an open market. I call this capitalism’s own answer because it is the one that keeps the system operating autonomously, a law unto itself. It especially appeals to owners, managers and others with a vested interest in the system.

Unfortunately, markets are almost never “perfect” — different participants in the market have different levels of knowledge, and the power of individual participants vary. In other words, markets are prone to failure due to information asymmetry.

This is why, especially in our capitalist society, education must not be primarily for training workers or consumers (both tools of capitalism, as Marxists might say). Rather, schools should aim to produce self-determining agents who can see through the blandishments of the market and insist that the market provide what they themselves have decided they need to lead fulfilling lives. Capitalism, with its devotion to profit, is not in itself evil. But it becomes evil when it controls our choices for the sake of profit.

Capitalism works for the good only when our independent choices determine what the market must produce to make a profit. These choices - of liberally educated free agents - will set the standards of capitalist production and lead to a world in which, as Aristotle said, work is for the sake of leisure. We are, unfortunately, far from this ideal, but it is one worth working toward.