How EC works
  • Introduction
  • How the Economic Machine Works
    • How the Economic Machine Works: “A Transactions-Based Approach”
    • How the Market-Based System Works
    • The Template: The Three Big Forces
    • 1) Productivity Growth
    • 2) The Long-Term Debt Cycle
    • 3) The Short-Term Debt Cycle
  • Debt Cycles: Leveragings & Deleveragings
    • An In-Depth Look at Deleveragings
    • The Ugly Deflationary Deleveragings
    • The Beautiful Deleveragings
    • The Ugly Inflationary Deleveraging
    • A Closer Look at Each
      • United States Depression and Reflation, 1930-1937
      • Japan Depression and Reflation, 1929-1936
      • UK Deleveraging, 1947-1969 UK Deleveraging,1947-1969
      • Japan Deleveraging, 1990-Present
      • US Deleveraging, 2008-Present
      • The Recent Spain Deleveraging, 2008-Present
      • Germany’s Weimar Republic: 1918-23
    • US Deleveraging 1930s
      • Preface
      • Conditions in 1929 Leading up to the Crash
      • 1H1930
      • 2H1930
      • 1Q1931
      • 2Q1931
      • 3Q1931
      • 4Q1931
      • 1H1932
      • 2H1932
      • 1933
      • March 1933
      • 1934-1938
    • Weimar Republic Deleveraging 1920s
      • Overview
      • World War I Period 1914 – November 1918
      • Post-War Period November 1918 - December 1921
      • Hyperinflation
      • Second Half of 1922
      • 1923
      • Stabilization: From Late 1923 Onward
  • Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing
    • Part 1: The Formula for Economic Succes
      • A Formula for Future Growth
      • Projections
      • Productivity and Competiveness Measures
      • Our Productivity Gauge
      • Value: What You Pay Versus What You Get
      • A Simple Measure of Cost: Per Capita Income
      • Education
      • Cost of a Productivity Adjusted Educated Worker
      • Working Hard
      • Working Hard Subcomponent: Average Hours Worked
      • Working Hard Subcomponent: Demographics
      • Investing
      • Investing Subcomponents: Aggregate Fixed Investment Rates
      • Investing Subcomponents: Household Savings Rates
      • Culture Components
      • Self-Sufficiency
      • Self-Sufficiency Subcomponent: Work Ethic
      • Self-Sufficiency Subcomponent: Work Ethic - Average Hours Worked
      • Self-Sufficiency Subcomponent: Work Ethic – Labor Force Participation
      • Self-Sufficiency Subcomponent: Work Ethic – Actual Vacation Time
      • Self-Sufficiency Subcomponent: Work Ethic – Retirement Age as Percentage of Life Expectancy
      • Self-Sufficiency Subcomponent: Government Supports
      • Self-Sufficiency Subcomponent: Government Supports – Government Expenditures
      • Self-Sufficiency Subcomponent: Government Supports – Transfers to Households
      • Self-Sufficiency Subcomponent: Labor Market Rigidity
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Unionization
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Ease of Hiring and Firing
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Minimum Wage as Percentage of Average Income
      • Savoring Life Versus Achieving
      • Savoring Life Versus Achieving Subcomponents: Observed Outcomes
      • Savoring Life Versus Achieving Subcomponent: Expressed Values
      • Innovation and Commercialism
      • Innovation and Commercialism Subcomponent: Outputs
      • Innovation and Commercialism Subcomponent: Inputs
      • Bureaucracy
      • Corruption
      • Rule of Law
      • Our Indebtedness Gauge
      • Debt and Debt Service Levels
      • Debt Flow
      • Monetary Policy
      • Summary Observations
    • Part 2: Economic Health Indices by Country, and the Prognoses That They Imply
      • India's Future Growth
      • China's Future Growth
      • Singapore's Future Growth
      • Mexico's Future Growth
      • Thailand's Future Growth
      • Argentina's Future Growth
      • Korea's Future Growth
      • Brazil's Future Growth
      • USA's Future Growth
      • United Kingdom's Future Growth
      • Russia's Future Growth
      • Australia's Future Growth
      • Canada's Future Growth
      • Germany's Future Growth
      • France's Future Growth
      • Hungary's Future Growth
      • Spain's Future Growth
      • Japan's Future Growth
      • Italy's Future Growth
      • Greece's Future Growth
      • Appendix: List of Statistics that Make Up Our Gauges
    • Part 3: The Rises and Declines of Economies Over the Last 500 Years
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  1. Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing
  2. Part 1: The Formula for Economic Succes

Savoring Life Versus Achieving Subcomponent: Expressed Values

PreviousSavoring Life Versus Achieving Subcomponents: Observed OutcomesNextInnovation and Commercialism

Last updated 7 years ago

Observing the outcomes of people's choices is one way to see whether they value achievement over savoring; another, of course, is to ask them. You can imagine the questions you would ask. Some of the ones that are intuitive to us are whether a society puts growth as a top priority for the country, whether it believes competition is healthy and at a personal level whether each individual feels being very successful is important and that hard work will lead to success. Fortunately, there is a World Values Survey that asks many questions and includes ones like this. Naturally there are challenges comparing survey data across countries, but we believe by triangulation across a set of intuitive questions we can come up with a pretty good indication of a country's expressed values, which we can then weigh against the outcomes we observe (which form the other half of our savoring life versus achieving gauge, as discussed above).

观察人们选择的结果是看看他们是否重视成就,另一个,当然是问他们。你可以想象你会问的问题。对于我们来说,一些直观的是,社会是否将增长作为国家的首要任务,无论是认为竞争是健康的,个人层面上是否每个人都觉得非常成功是重要的,而且努力工作将导致成功。幸运的是,有一个世界价值观调查问了很多问题,包括这样的问题。自然地,各国比较调查数据存在挑战,但我们认为通过一系列直观问题的三角测量,我们可以很好地反映出一个国家表达的价值观,我们可以对我们观察到的结果(形成另一半我们的品尝生活与实现规格,如上所述)。

In fact, the rankings for the expressed component show a similar picture as those we observe in measures of work effort. India and China top this gauge for the emerging world, and Latin America is further down the list. Of the developed world, the US values achieving most, while France and the European periphery place the most emphasis on savoring life. This gauge is less correlated with incomes than observed measures of work effort, which makes some sense as observed measures are a more direct way of seeing a country's values (e.g., you can value savoring the fruits of life but work out of necessity). When you exclude the effect of income, the US moves to the top of achievement-oriented countries, with India just behind.

事实上,表达部分的排名与我们在努力工作中所观察到的情况类似。印度和中国是新兴世界的榜样,拉美则进一步下滑。在发达国家,美国的价值达到最高,而法国和欧洲周边地区最为重视品尝生活。这个量表与收入的关系与观察到的工作量的相关性不大,这是有意义的,因为观察到的措施是更直接的方式来看待一个国家的价值观(例如,你可以珍惜生活中的成果,但是必须做出努力)。当你排除收入的影响时,美国走向了以成就为导向的国家,印度才刚刚落后。

The table below shows more specific information which we triangulated to get a sense of the expressed values toward achievement versus savoring in a given society. It’s interesting how the reasons for these cultural attitudes differ across countries. For example, in Russia people express a lack of faith that hard work leads to success, even though they express a desire for the country to grow, while in Canada people express a high value on political input or environmental protection over economic growth. That said, we don’t want to make too much of any one of these indications, since what we are trying to capture is the overall essence of whether a country is achievement-oriented.

下表显示了更具体的信息,我们进行了三角测量,以了解在特定社会中对成就与品味的表达价值。这些文化态度的原因如何在各国之间有所不同。例如,在俄罗斯,人们表示缺乏信念,努力才能取得成功,尽管它们表达了对国家成长的渴望,而在加拿大,人们对经济增长的政治投入或环境保护表示高度的价值。也就是说,我们不想太多的这些迹象,因为我们想要捕捉的是一个国家是否成就导向的总体本质。