A transcript of a two-member panel discussion on changing values and higher education is presented. The transcript includes two speeches and members' responses to the questions of the moderator and audience. The first paper, presented by Robert Beagle (Assistant to the President, Edinboro State College, Pennsylvania) stresses that the key to understanding a person's behavior is to understand his value system. Efforts should be directed toward discovering value priorities which people have in common and creating behavior change by pointing out these commonalities. Professor Harry Wagschal (Dawson College; Montreal, Quebec) suggests a redefinition of the liberal arts tradition and a new pedagogy based on values reconstruction. Educational objectives should include future studies, cultural literacy and criticism, interdisciplinary approaches, communication, and the recognition of human interdependence. Another dimension of the curriculum would involve student journals. This technique allows students to become aware of their own values and how these values are reflected through their behavior. Questions and answers focus on the way in which advertisers and political and religious leaders affect value systems, how values of college students are changing, and the professor's role in bringing about value changes. (Author/KC)