12 - Psychology and the Economy Flashcards
What aspects of psychology that have been researched into have helped the economy?
Social change
Improving memory
Attachment
Mental health
How has research into social change helped the economy?
In Montana, they had a problem with alcohol related car crashes among 21-34 year old. Only 20% drove drunk, but 92% believed that most people did this.
By correcting this misperception and making people aware of the actual social norm, they moderated their behaviour to fit with the majority and the alcohol related car crashes reduced a lot.
This has a positive impact on the economy because reduce drink driving and smoking alleviates the burden on emergency and health services.
How has research into memory helped the economy?
The cognitive interview has hugely improved the accurate information collected from eyewitnesses.
This means less is spent on wrongful arrests and wasted police time will be vastly reduced.
How has research into attachment helped the economy?
Recent research has shown Bowlby’s claim that childcare was the sole responsibility if the mother for emotional support of the child is false.
Research has shown the importance of the father. Both parents are equally capable of providing emotional support.
It is now normal to have flexible working arrangements, where mothers who earn more go to work and father stays a home, or they share child care evenly.
This means they are better equipped to maximise their income and contribute more effectively to economy.
How has research into mental health helped the the economy?
Absence from work due to mental health issues such as depression, anxiety and stress cost the economy £5 billion a year.
