Psychology on the Economy

Question 1

What are the implications of psychological research on the economy?

Answer 1

By carrying out and cementing theories about particular topics, the government may waste less money and this can therefore improve the economy

Question 2

How can psychological research help the mental health sector?

Answer 2

£15m spent on mental health (e. g people staying off work)
Psychological research may include why people stay off work, how work environments affect work and the impacts of hybrid working
By changing work environments and methods, less money will be spent on people being out of work: less strain on the NHS
This will improve the economy

Question 3

How can psychological research help attachment?

Answer 3

Bowlby’s World Health Organisation report in the 1950s was taken to suggest that babies needed constant care of the mother for healthy psychological development. This led to ‘stay at home’ mothering. Later evidence has shown that good substitute care either in nurseries or by other family members e.g. father does not have a detrimental effect on social development
This then means that a mother can happily return to work after having a child and so remain economically active
This can also mean that less money is spent on child welfare by the government (e.g neglect, orphanage)