Results: Would you do the same job for less money?

Twice in my life, I have returned to the same job field and found that the salary they were offering was less than half of what I used to make doing the same work. If you were looking for work would you take a job, you had done before, for less pay? (Ex: You used to work as a Teacher Assistant, making $14 an hour. A few years later the same job is available, but at $9 an hour)

Have you already experienced this type of situation?

What did you do?