English title: Changes in Young Europeans' Values During the Global Financial Crisis

Author(s): Florencia Sortheix - Philip D. Parker - Clemens Lechner - Shalom H. Schwartz -

Language: English

Type: Journal article

Year: 2017

Abstract

We investigate the impact of the global financial crisis (GFC) on the personal values of youth and young adults (age 16–35 years) comparing 16 European countries. Using seven waves (2002–2014) of the European Social Survey (ESS), we examined (1) the extent to which the GFC led to value shifts in cohorts of young people and (2) the moderation of expected value changes by national levels of social expenditure. Multilevel analyses showed that, following the GFC, the importance of security, tradition, benevolence and, to a lesser extent, conformity values increased. In contrast, hedonism, self-direction, and stimulation values decreased. In line with our moderation hypothesis, power and, to a lesser extent, achievement values increased following the GFC in countries low on welfare expenditures but decreased in countries high on welfare expenditures. Contrary to expectations, increases in tradition and benevolence values were more pronounced in high-welfare countries.

Volume: 0

Issue: 0

From page no: 0

To page no: 0

Refereed: Yes

DOI: 10.1177/1948550617732610

Journal: Social Psychological and Personality Science