How does this impact on Community Wellbeing? A market for values would make it possible to foster spirit of community, by allowing towns, companies and individuals to undertake initiatives that are independent from their particular social role. In a nutshell, towns, companies and individuals would be able to exchange their experiences highlighting the benefits of principles such as environmentalism, inclusivity and social justice. It would be possible to exchange documents, each of which would list the experiences referred to a given value. Those would be certified on the basis of quantitative indicators, decided by law, such as a given reduction in CO2 emissions (for companies), a given increase in green areas (for local communities) and a given amount of donations to green charities (for individuals) in the case of environmentalism. The idea is described with more detail in this article: https://blogs.lse.ac.uk/businessreview/2019/10/25/a-market-for-values-would-reconcile-profit-with-a-higher-social-purpose/ Why should the Committee focus on this as part of their future work? The set of values that a company or an individual stands for is very limited. Therefore, our societies are not communities. As most individuals and companies know that their notion of good is only confined to their particular interest, there is no incentive to compare values, to change them, to spread them. Adam Smith's perspective of the impartial spectator is quite far. The only tool that society has to reach an overall agreement is represented by elections and consumer choices.
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