Abstract John Ahlquist's essay proposes a notion of “decent jobs” that is multidimensional, context-dependent, and dynamic. I suggest simple test for work”: work the worker thinks valued by people whom values (a measure exemplary virtue, hence eudaimonic). High pay in cash society but one such signal value, much labor provided without signal. advocate making relationship-building, decision-maki...

☆ Much of this paper was written while Davis wa employed by, the Federal Reserve Bank of New York. The are those of the authors and do not necessarily refle Reserve Bank of New York or the Federal Reserve Syste Elhanan Helpman and Oleg Itskhoki for very helpful co this paper, and to seminar participants at Columbia, For and the NBER. ⁎ Corresponding author at: Department of Economi York, NY 100...