Psychology & Economy

• what 5 ways can psychology impact the economy

  1. cost to NHS/reduce costs (through development of new medication)

  2. reduction of days off work

  3. more productivity at work

  4. more people in work, earning = more tax contributions

  5. benefits may be permitted/denied to certain groups
• what have early attachment studies shown


  bowlby = role of mother is the caregiver & father isn't as vital
• what have recent attachment studies shown

  children should form multiple attachments & the both parents are capable of providing emotional support
• how does recent attachment research have an impact on the economy

  may promote more flexible working arrangements in the family e.g. getting women back to work & contributing to the economy BUT bowlby's ideas may contribute to the gender pay gap (norm for women to stay home & men to go to work)
• how much does absence from work cost the economy

  £15 billion per year
• what did a recent government report find

  1/3 of all absences are caused by mild to moderate mental health disorders
• how do absences from work impact the economy

  research into causes & treatments of mental illness means sufferers are more able to manage their condition effectively and return to work
• research into eyewitness testimonies made us aware of the impact of misleading info, anxiety & development of the cognitive interview - how does this impact the economy


  saves the economy money buy putting less wrong convictions into prison (£44,600)