Social Well-Being for a Sustainable Future: The Influence of Trust in Big Business and Banks on Perceptions of Technological Development from a Life Satisfaction Perspective in Latin America

Sustainable development is becoming increasingly important because it improves the quality of our lives. Businesses must focus beyond maximizing corporate economic profits, which are very important. They must internalize the fact that planning and governance-oriented strategies focused on promoting human health and well-being ensure a sustainable future. This study explores the influence exerted by trust in large companies and banks on the perception that technological development has on people’s life satisfaction. The research uses data from the World Value Survey (WVS) and the World Bank, contemplating six Latin American countries: Argentina, Brazil, Chile, Colombia, Mexico and Peru, in the period between 2012 and 2018. Our main results show that the lower the trust in institutions, the stronger the negative association with perceiving science and technology as making life easier, healthier and more comfortable in the near future. We also confirm that people who have very high levels of national pride tend to trust institutions. We also confirm that people who have very high levels of national pride tend to trust institutions. Finally, with this work, we contribute new empirical evidence to the current field of research on the influence of technological development on issues related to human beings, specifically in Latin America.