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Value, Values, and the Role of Awareness

Author

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  • Sandra Eickmeier

Abstract

Economists recently have pointed to a critical disconnect between economic value and ethical values as a key societal issue. Using a survey of 2,000 German households this paper reveals a misalignment between earnings and the values attributed to professions. Households prioritize professions addressing basic needs and benefiting society and nature over those offering personal utility, high remuneration, or economic growth, highlighting the importance of ethical considerations. This paper argues that values require a solid foundation rather than mere discussion or imposition. Linking values (and value) to awareness, it shows that more aware (along with more educated and informed) households favor professions supporting ethical values such as societal and environmental contributions, creativity, and beauty. Lastly, 60% of households support shifting societal values toward shared responsibility, though responses vary across households.

Suggested Citation

  • Sandra Eickmeier, 2025. "Value, Values, and the Role of Awareness," CAMA Working Papers 2025-14, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:een:camaaa:2025-14
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    File URL: https://crawford-prod.anu.edu.au/sites/default/files/2025-03/14_2025_Eickmeier.pdf
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    More about this item

    Keywords

    economic value; ethical values; earnings; prices; mindset; awareness; consciousness; surveys; direction of growth; quality of growth;
    All these keywords.

    JEL classification:

    • D9 - Microeconomics - - Micro-Based Behavioral Economics
    • E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
    • E7 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics
    • I3 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty
    • J3 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs
    • Z1 - Other Special Topics - - Cultural Economics

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