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The return to experience is a way to describe what you get in return for aging.
Unions, in arguing for pay that rises with seniority, invoke a belief in the return to experience.
"This decline in the return to experience closely matches the decline in attachment to the labor force," Case and Deaton wrote.
The return to experience is not the best-known economic concept, but it is alive in most of our contemporary economic spook stories, in which the callow private-equity analyst has the final power over an industry in which people have long labored, in which the mechanical robot replaces the assembly-line worker, in which the doctor finds his diagnosis corrected by artificial intelligence.
"Our attendance has spiked in the days since the application was first released," said Amar. "We've found that once people come to play Pokémon Go, they return to experience the museum and gardens and for the opportunity to 'catch 'em all' in a picturesque landscape".
The return to experience tends to be higher for more skilled jobs: a doctor might expect the line between what she earns in her first year and what she earns in her fifties to rise in a satisfyingly steady upward trajectory; a coal miner might find it depressingly flat.
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"There are still returns to experience," Case said, "but they are lower for every birth cohort".
They noticed that another long-running pattern fit more precisely — a decline in what economists call returns to experience.
The chronology matched some general changes in the nature of working-class work, which grew less skilled over time and therefore provided lesser returns to experience.
If you focussed on white workers without a college degree, the decline in returns to experience began with those born around 1955.
I spoke to Case by phone recently, and she emphasized that the connections between the deaths from despair and the declining returns to experience are still at the hypothesis stage.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com