Job Satisfaction: The Effect of Capitalist and Corporatist Institutions

Economic activity yields benefits in the form of output and consumption. In addition, there is a non-material dimension to participating in an innovative economy since much of what is most valued about participating in such an economy is the challenge and experience it offers rather than just the material goods and services produced. The question addressed in this paper is whether capitalist economies are more rewarding in non-material terms than corporatist economies since the latter may be less innovative due to the corporatist state’s intervention in the allocation of the factors of production and the distribution of income. In particular, we explore whether reported job satisfaction tends to be higher in the capitalist economies and lower in the corporatist economies