This paper compares employment with spot trade of labor, formalizing arguments by Coase, Simon, and Williamson. With spot trade, an entrepreneur and a wealth-constrained worker bargain over different actions, and without agreement there is no trade. Employment is a relational contract that gives...

Intro -- Half Title -- Title Page -- Copyright Page -- Dedication -- Contents -- List of boxes -- Acknowledgements -- Introduction -- Chapter 1 Do you flourish at work? -- Wellbeing - more than the absence of distress -- Safety was the low-lying fruit -- the more ambitious project promotes our...