The Clinton Herald, Clinton, Iowa

Community News Network

November 21, 2012

Slate: The neglected economics of trying to find a job you enjoy

WASHINGTON — Everyone knows that money aside, it's better to have a job you love than a job you hate. Some of that is the nature of the task. I think the issues I cover are really interesting, but lots of people aren't interested in them and would find it extremely tedious to write about them all day. And some of it is co-workers. Most people spend a lot of time at their place of work and a lot of time interacting with your co-workers. Working alongside people whose company you enjoy is much better than working alongside people you hate.

And yet even though everyone knows these things, the nonmonetary aspects of job quality are an incredibly neglected topic in economics.

I was reminded of this the other day when I caught up with an old friend who's a recently minted economics Ph.D. from the University of Michigan and whose job-market paper "Match Quality with Unpriced Amenities" is precisely on this subject. "Typically, monetary productivity is assumed to be the sole determinant of the worker-firm match," even though that clearly isn't the case, he writes. The work of the paper is to try to build a tractable structural search model that "allows job match quality to depend additionally on unpriced job amenities" (i.e., people try to find jobs they like) and "permitting match quality estimation that is robust to both unobserved amenities and selection." One takeaway from the paper is that traditional estimates of deadweight loss from wage taxation are producing overestimates, and that's increasingly the case as unpriced amenities become more important.

This subject also strikes me as relevant to the conversation around productivity growth. We have a stylized fact whereby as a society gets richer, its citizens should be expected to consume more leisure at the margin. And indeed we see that over time hours worked has tended to fall in rich countries.

Text Only
Community News Network
  • 072214 Diamond Llama 1.jpg Llama on the loose corralled in Missouri town

    A llama on the lam cruised Main Street Tuesday before it mistook a resident’s fenced backyard for a place to grab a meal and freshen up.

    July 22, 2014 2 Photos

  • When your doctor commits suicide, things get complicated

    When they call for appointments, patients are told they can't see their doctor. Ever. The standard line: "We are sorry, but your doctor died suddenly."

    July 15, 2014

  • NWS-HB0713-HowardMartin-004.jpg Airman laid to rest back home in Indiana six decades after death

    The mystery of what happened to a military transport plane that disappeared in the fall of 1952 into an Alaskan glacier was solved two years ago when a helicopter crew spotted the wreckage. But it took another two years to retrieve the remains of Airman Howard Miller and 16 other servicemen passengers. Saturday, Miller was laid to rest in his hometown of Elwood, Ind., with full military honors. Hundreds turned out for the funeral and burial services.

    July 13, 2014 2 Photos

  • This is what happened when I drove my Mercedes to pick up food stamps

     I climbed the ladder quickly, free to work any hours in any location for any pay. I moved from market to market, always achieving a better title, a better salary. Succeeding.

    July 8, 2014

  • Nation's first soda tax could come to Berkeley

    The Berkeley City Council unanimously decided last week to put the 1-cent-per-ounce tax on the ballot this November. Approving the tax would mean a major defeat for the soda industry, which has spent millions to crush the effort nationwide.

    July 7, 2014

  • President Barack Obama mug Best president? Worst president? Don't read too much into those polls

    The questions about who are the best and worst post-WWII presidents are useless. What they mainly show is that Republicans are far more unified around a single story than are Democrats.

    July 2, 2014 1 Photo

  • What states can do on their own about immigration

    It's official: Congress won't take up immigration reform this year. This week, President Barack Obama said he'll use executive actions to change policies unilaterally.

    July 1, 2014

  • The Internet has changed how we curse

    Relatively recent technologies — cable television, satellite radio, and social media — provide us with a not-too-unrealistic picture of how often people swear in public and what they say when they do.

    June 24, 2014

  • May 2014 was the hottest may in recorded history

    According to new data released this week, May 2014 is officially the warmest May in recorded history.
    Both NASA and the Japan Meteorological Agency have tentatively ranked May at the top of historical measurements, though NASA's numbers are preliminary because crucial information is still missing from China.

    June 18, 2014

  • facebook.png Facebook making big changes to its advertisements

    Facebook is making significant changes to the advertisements on its network, and said Thursday that it will give users more control over which ads they see on its network.

    June 12, 2014 1 Photo

Front page
Clinton Herald Photos


Browse, buy and submit pictures with our photo site.

Poll

What are your plans for the weekend?

Enjoying the outdoors
Staying in out of the heat
Traveling
Other
     View Results
AP Video
Olympics 2014
Featured Comment
Featured Ads
Blue Zones Project
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.