A project from a team led by Carlos Newland (Catholic University of Argentina), with Brad Lips (Atlas Network) and Pál Czeglédi (University of Debrecen), aims to investigate why levels of individual support for free markets vary so significantly across global populations.

This inquiry is crucial because the effective functioning of free markets depends on widespread intellectual and public endorsement of both market systems and the principle of human freedom. The researchers propose that an individual's direct experience with markets and the act of making economic choices in production play a significant role in shaping their ideological beliefs.

While previous data has shown that educated individuals tend to be more pro-market, this research could help uncover trends or variables that have not yet been considered. A central hypothesis is that even in countries with a long-standing commitment to free markets, younger generations may be showing a move towards interventionist policies. Identifying the reasons for these shifts is essential for developing institutions that effectively support open and inclusive economic systems.

Employing econometric analysis on Integrated Values Survey (IVS) data from 1981–2024, compiled from the merger of the World Values Survey (WVS) and the European Values Study (EVS), this research will investigate historical and cultural factors shaping pro-market mentalities. The project begins with modeling and testing of IVS data at the individual level. It will then assess the influence of societal structures on economic mentality and explore whether factors such as age, occupation, and education predict pro-market attitudes.

To determine whether market opinions are converging or diverging within and between countries, the project will analyze the role of age, migration, geographic proximity, and personal values. The study will also update the 2021 Global Index of Economic Mentality (GIEM), originally developed by the team, to include recent data and cross-check results using separate datasets from the WVS-EVS.