Satisfaction and Growth Expectations in Industry and Trade

Abstract

We have an abundance of economic data to describe the economic process. We can state with relative precision how demand in industry is changing, whether trade turnovers are rising or falling, and how long average working hours are. We know whether producers feel their stocks in hand to be too great or too small; we even know something about business expectations, and about plans for investment in the economy. Despite this and much other information there are many phenomena in our society, and in our economy, which cannot be satisfactorily explained. What do we in fact know about the people who decide on investments and production in our economy? Yet, if we had a time series giving ascertained survey data about the attitudes of business executives to various aspects of life, that is just what might be useful for analyzing and evaluating economic plans und expectations. Is the economy suffering, say, from general pessimism about growth? Are the people who stand at the command posts in our economy dissatisfied, and if so, why? Can we say at all what factors influence the satisfaction of an employer or of employees? Does the satisfaction of leading people in our economy depend more on the size of their income, on their age, or even on their education? Or do other factors govern the matter?