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We've got it all wrong, says Carlos Slim, the Mexican telecoms tycoon and world's second-richest man: we should be working only three days a week. Attending a business conference inParaguay, Mr. Slim said it was time for a"radical overhaul" of people's working lives. Instead of being able to retire at 50 or 60, he says, we should work until we are older--but take more time off as we do so.

"People are going to have to work for more years, until they are 70 or 75, and just work three days a week--perhaps 11 hours a day," he told the conference, according to Paraguay.com newsagency. "With three work days a week, we would have more time to relax for quality of life. Havingfour days(off) would be very important to generate new entertainment activities and other ways ofbeing occupied." The 74-year-old self-made magnate believes that such a move would generate a healthier and more productive labour force, while tackling financial challenges linked to longevity.He is putting his money where his mouth is. In his Tehnex fixed-line phone company in Mexico,where workers on a collective labour contract who joined the company in their late teens areeligible to retire before they are 50, he has instituted a voluntary scheme allowing such workers tokeep working, on full pay, but they only need to work four days a week.

Mr. Slim stunned the Mexican business world this month with plans to break up his Am6ricaM6vil empire, selling about a fifth of its assets, in order to avoid regulatory sanctions. Hiscompanies dominate 80 per cent of the fixed-line and 70 per cent of the mobile markets inMexico--above a new 50 per cent threshold. The magnate is a keen strategist and philanthropist,who has often said what he likes to do best is to think. He has cultivated interests outside thecorporate world: his passion for Rodin sculpture and art collecting is evident in the Soumaya museum in Mexico City dedicated to his late wife.

Another of his deep-held bel