Reducing the 8 hour work day to fewer hours might be more productive still. But not if that entices more people to get second or third jobs to make bills.
I can see your point.
Having only one day off might more than offset the win from less hours per day, though.
Also, if you need to commute for a long time to get to your work, you'll spend a lot of time in the car/bus/train/whatever you use to commute, and for those who do, this may be very counterproductive.
In short, this might work out better for you, but it's certainly not for everyone.
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