Implications for the economy

• Psychological research can have both positive and negative effects on the economy depending on what the wider implications are. Implications are conclusions that are suggested in an indirect way.
• For e.g. if research suggests that mental illness may be improved by staying at home, more people may stay at home which will lead for negative consequences to the workplace as there will be less money being earned as a society.
• An example of where psychological research has had a positive effect on the economy is the development of therapies. Absence from work costs £15 billion and about 1/3rd of this is due to moderate mental health issues.

  Due to this , medication for mental illnesses can control these symptoms and this will make the individual feel more able to return to work and keep returning to the economy and NOT incur long term effects on the health care service.
• Another topic where there has been positive impacts for the economy is in attachment research. The importance of emotional care in Bowlby's work was evidence that children need good substitute care when left in day care which was then adopted by the health care policy and led to a greater chance of healthy emotional development and became more economically independent.
• The CIT is another example of good implications of psychological research. The number of false convictions has since been avoided and police time is now used more effectively due to an increase in the accuracy of the EWT.