Are we working or just putting in time? We seem so fixated on time when we should be fixated on getting things accomplished. One of the benefits of my current position. They are really flexible on taking off early or arriving late provided I get my work done.
Selling your time is a relic of manual labor in the pre-industrial age, an issue that has been exacerbated by the computer age. Though manual labor has bot been phased out of the economy, the volume required is nowhere near the levels required before automation, first mechanical and now electrical.
So Volume Manual Labor is a mostly outmoded concept, that will continue to decline with further advances.
The caveat here is that once you shift to a model that is based purely on productivity, business owners will just raise the productivity standards until you are working 40, 50, or 60 hours peer week anyway.
So the best way, oddly, to deal with the issue, is to keep it measured in time, but limit it, in much the way the Billionaire guy suggested. However, I think there should be a tad more flexibility than what he suggests (eg 4x8.5, alternating work days under his plan, etc).