If you reject the PWE then very different possibilities emerge and in particular "full employment" stops looking like a good public policy goal and start looking like you're just trying to waste as much of people's time as possible.
I hear the PWE invoked (usually with a sneer), and reflect that it seems to be referring to exactly how my parents have operated throughout their adult lives, and that if everyone behaved the way my parents have done (to the extent that they are capable, of course), society would function far more effectively and harmoniously.
And then I wonder what I'm missing.
My mother spent her career working in hospitals helping to rehabilitate seriously injured and ill people. In her non-work time she cared for her ageing parents until they passed away. Now she helps raise her grandkids.
My father helped design and build telecommunications networks then ran a company making electronic gadgets that helped school kids learn about science, and environmental researchers gather data.
Both of them have spent much of their non-work time volunteering in the community - at kindergarten, school, church, and more. And they have maintained a healthy social life and done plenty of travel.
They've always been busy, but never burnt out or exhausted. Always occupied and fulfilled, never resentful.
I don't see how any of their work or volunteering is surplus to society's requirements.
I do see that society would be better off if more people were doing the kind of work and volunteering that my parents have always done.
What am I missing here?