The misleading aspect you mentioned is exactly what irks me about the book. It is a fantasy being sold to every person working a dull job. The glorification of the no-work, jetsetting lifestyle is misleading as well. To have a profession and be a member of a community should be a source joy and accomplishment, not something to run away from. I think most people would find traveling the world alone, constantly indulging fantasies, would become boring and meaningless after a few months.
That doesn't really have much to do with the article. It's actually about a freelancer trying three different time management techniques, including the ones found in 4HWK. It was meant to be tongue-in-cheek. In fact, the author said,
"Ferriss' system basically amounts to finding ways to avoid doing your work." which I imagine you'd appreciate it for its intended humor.
With regards to the social implications of 4HWK, As had been said in many of the comments here about it, the idea is to be able to do what you want to do, whether it is to indulge in what you consider as fantasies, or to throw yourself back into doing another time-consuming, socially-productive startup.
I think you underestimate the difficulty of having nothing to do. In those moments, there is nothing to distract you from taking a good, hard look at yourself. There are many things that come up, assumptions about what is socially acceptable (getting a job) and what is not gets examined. I've done a bit of that in the past before, and I recognize it in Ferris's words at the beginning of his book. If after going on this imposed exile for a year, you come out of it going after a new dream, or a new project, that is often more true to yourself than running around being "productive". It is the equivalent of reaching the self-acualization stage of Maslow's ladder, and being ready to go beyond that. This experience is life-changing enough that I think people should have the opportunity to give it a try. Yes, it requires the cooperation of other people helping you out. What of it?
The other side of it is that American society may value egalitarian hard-work, but much of the middle-class affluence is founded on those living in harsher working conditions. Basic things as simple as running water, toilet paper, nutritionally-balanced meals, junk food, iPhones and news.ycombinator.com are all taken for granted here. They are not universally available. It is one thing to criticize Ferris's method for resembling an unsustainable Ponzi scheme, it is quite another to describe it as indulging in fantasies and gloficiation of no-work when the average, mainstream American middle-class is affluent by world standards.
When something becomes boring and meaningless, whether it's a dull job that should be a source of joy, or the globetrotting you thought was what you wanted, you do something else.
I'm not sure if you meant it this way, but personally I'm not going to joyfully embrace the glorious opportunity to throw away 45+ hours of my life every single week to help make some rich people richer.
Personally I wouldn't just travel (maybe 2/3 months a year), I would write libraries to help the programming languages I like and do various CS research. I think there is so much more to discover in our field.
