Money Attitudes and Hierarchies of Values

The money-medicine tension can also be analyzed from another angle by applying the concept of a hierarchy of values. Aspects of a meaningful life are discussed, with the most frequently mentioned being work , family , social relationships , love , children , leisure in various forms, and health . Work is established as having intrinsic value. The argument is made that meaning and quality of life depend on “real” sources of meaning, while money may serve only a symbolic function in this regard. The chapter then examines the constitution of hierarchies of values in terms of both structure and density. The formal analysis suggests that practicing money and treating medicine as a means may lead to a problematic situation if one’s hierarchy of values is low in density, while money holds high importance relative to other values. Finally, money and status are discussed as “non-values”—aspects of life that cannot generate meaning. The chapter concludes with the concept of a “coherent life,” the idea that elements within a hierarchy of values should reinforce one another rather than be treated as a zero-sum game.