Life Satisfaction and Ethical Beliefs During the Economic Crisis: A Cross-Sectional Study of Finnish Consumers

Arto Lindblom, Taru Lindblom

Research output: Contribution to conferencePaperScientificpeer-review

Abstract

In this study we analyze how the life satisfaction (as a cognitive component of subjective well-being) and ethical beliefs vary among
demographic groups as the wider economic environment crumbles and the prospects for the future are bleak. Our study also addresses
the theoretical question of how the life satisfaction is related to consumers’ ethical beliefs in an insecure economic environment. Life
satisfaction is measured by utilizing Satisfaction with Life Scale (SWLS) and ethical beliefs are measured by using the Consumer Ethics
Scale. The empirical data is based on the cross-sectional study that was conducted in Finland in October 2015. In the fall 2015, the fear
of economic meltdown in the country was real. Based on our analyses and a sample of 976 Finns, we argue that during an escalating
economic crisis, life satisfaction is greatest among women, people who live with partners (with or without children), people having more
than basic education, entrepreneurs and the higher income groups. In addition, we show that during the economic crisis Finns with
the highest ethical standards tend to be older individuals and to have less education and less income. We also demonstrate that life
satisfaction is strongly associated with ethical beliefs in a way that decrease in the level of life satisfaction increases the level of unethical
behavior. These results contribute to current theories of consumer ethics and consumer psychology
Original languageEnglish
Publication statusPublished - 2018
MoE publication typeNot Eligible
EventThe Asian Conference on the Social Sciences - Art Center Kobe, Kobe, Japan
Duration: 8 Jun 201810 Jun 2018

Conference

ConferenceThe Asian Conference on the Social Sciences
CountryJapan
CityKobe
Period08/06/201810/06/2018

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