Value, Values, and the Role of Awareness

Sandra Eickmeier

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

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.

Keywords: economic value; ethical values; earnings; prices; mindset; awareness; consciousness; surveys; direction of growth; quality of growth (search for similar items in EconPapers)
JEL-codes: D9 E3 E7 I3 J3 Z1 (search for similar items in EconPapers)
Pages: 68 pages
Date: 2025-03
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https://crawford-prod.anu.edu.au/sites/default/fil ... 4_2025_Eickmeier.pdf

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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2025-14

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