Psychology and Industrial Efficiency

Our aim is to sketch the outlines of a new science which is to intermediate between the modern laboratory psychology and the problems of economics: the psychological experiment is systematically to be placed at the service of commerce and industry. So far we have only scattered beginnings of the new doctrine, only tentative efforts and disconnected attempts which have started, sometimes in economic, and sometimes in psychological, quarters. The time when an exact psychology of business life will be presented as a closed and perfected system lies very far distant. But the earlier the attention of wider circles is directed to its beginnings and to the importance and bearings of its tasks, the quicker and the more sound will be the development of this young science. What is most needed to-day at the beginning of the new movement are clear, concrete illustrations which demonstrate the possibilities of the new method. In the following pages, accordingly, it will be my aim to analyze the results of experiments which have actually been carried out, experiments belonging to many different spheres of economic life.