Morale, what is it good for?
Absolutely nothing. I'll say it again.
You must be a Drengin if that's your version of the song 
I understand it is a bit more complex calculation for production, because it seems to be a compound interest thing, that is, the base is multiplied by the approval modifier before the other modifiers are applied. But must be doable for one of the wizzkids at Stardock. At least it could be mentioned in the Morale tooltip, shouldn't have to wait to 1.1 for that. Ah well, glad I started asking questions on this forum.