Social indicators research is concerned with the measurement of quality of
life in society from both the objective and subjective point of view. The s
ubjective appraisal of quality of life often involves judgements in terms o
f "satisfaction'' (Veenhoven, 1996: 1). Such research however, is not only
concerned with satisfaction but also with dissatisfaction. The concepts of
pessimism and optimism are used in this paper to determine feelings of sati
sfaction and dissatisfaction among an elite cohort of baby boom Australians
. Objective and subjective potential indicators of quality of life are comb
ined to explore these dimensions.