Psychology and the economy

Question 1

Using two examples, outline the implications of psychological research for the economy (4 marks)

Answer 1

One of the ways that psychological research can impact the economy is through attachment research into the role of the father. Recent research has stressed the importance of having multiple attachments and the role of the father in healthy psychological development. This may produce more flexible working arrangements, allowing modern parents to contribute more effectively to the economy.
A second way that psychological research can impact the economy is through the development of treatment for mental illness. A third of all days off work are caused by mental disorders such as depression. Psychological research into the causes and treatments of mental disorders means that patients have their condition diagnosed quickly as well as having access to effective treatments & therapies. This means that sufferers can manage their condition effectively, return to work and contribute to the economy.