2. Implications Of Research On Economy

Question 1

Area of psychology:
Effective psychotherapies - psychopathology
Impact on economy:

Answer 1

• effective therapies developed as a result of the research will increase the ability of people with disorders to stay in work, contributing to the economy through taxation and not needing to claim benefits
• absences from work costs businesses a huge amount of money so keeping people in work will reduce absence rates and resulting costs
• successful research may increase investment in research in the UK which will have a positive impact

Question 2

Area of psychology: EWT - memory

Impact on economy:

Answer 2

• if EWT is more accurate it leads to more reliable evidence which leads to less chance that a court case will fall apart
• reduced amount of wrongful convictions that would need compensation from government
• reducing cost of bureaucracy (e.g. trial time/paperwork) that would accompany wrongful convictions

Question 3

Area of psychology: Advertisment - social influence

Impact on economy:

Answer 3

• ultimately makes people part with their money and consume excessively (sometimes needlessly)
• this contributes to the economy through tax on products that goes back to the government
• hence government can develop more resources for society (e.g. NHS)

Question 4

Area of psychology: Role of father research - attachment

Impact on economy:

Answer 4

• father seen as being just as important in caregiving
• both parents given leave (maternity/paternity)
• workplaces lose two workers instead of one
• nurseries/childcare centres not used as much - not contributing to economy with childcare costs