These are some of the results of a Financial Times/Harris Poll conducted online by Harris Interactive® among a total of 6,473 adults aged 16 to 64 within France; Germany, Great Britain, Spain, the United States, and adults aged 18 to 64 in Italy, between September 6 and 17, 2007.
Attitudes Toward Free-Market Capitalism
Less than 50 percent of adults in all six countries say that a “free-market capitalist economy” is the “best economic system.” However, in three countries almost half believe it is: the United States (49%), Spain (49%) and Germany (48%).
Further evidence that the so-called “Anglo-American” or “Anglo-Saxon” economic model does not have widespread appeal is that only relatively small minorities of the people in the five European countries (except for a larger 38% in Italy) think that “Europe’s economy should be more like that of the United States.”
One of the constraints on free-market capitalism is the power of trade unions. Most people in Britain, Spain, and Germany believe that trade unions “have an important role in today’s work environment” a view shared by over 40 percent in the U.S., Italy, and France. It is noteworthy that support for trade unions is weakest (but still strong) in France and Italy, where unions probably have more power than in the other four countries.
Attitudes on Multi-National Companies
Most people doubt the power of national government to control multi-national companies. In the five European countries, less than 20 percent of the public think their governments have more power than multi-nationals. Even in the U.S., only 30 percent believe this.
Economic Optimism and Pessimism
Only rather small minorities (from 13% in Italy to 36% in Germany) of the public are optimistic about the future of their own country’s economics. And, only minorities (from 18% in Britain to 36% in Germany) are optimistic about the future of the “European economy as a whole.” Pessimism about their own countries’ economies is highest in Italy (69%), France (58%) and Spain (47%) and lowest in Britain (31%) and Germany (33%). In every country there are more economic pessimists than optimists, including the U.S. (36% compared to 29%).
However, and perhaps paradoxically, more people in each of the six counties believe that the European business environment for companies based in their own countries is good rather than bad. However, substantial majorities (from 60% in Britain to 75% in Spain) are not confident that the European Central Bank (ECB) fulfills its primary roles controlling inflation and promoting economic growth.
Competing with Asia
One reason for economic pessimism in Europe is that only minorities of the public (from 25% in Britain and France to 42% in Spain and 44% in Germany) believe that “European economics can compete effectively” against Asian countries such as China and India.
