Economic Implications

• Economic implications - whether research will benefit or negatively impact the economy (tax)
• Economic Implications - Mental Health:

  > absence from work costs the economy over £15 billion a year

  > a third of all absences are due to mild and moderate mental health conditions

  > psychological research into effective treatments can have a huge benefit for the economy e.g. combining drug therapy and CBT
• Economic Implications - Mental Health AO3:

  :) a combination of theories mean individuals can manage their condition effectively and return to work, saving the economy money

  :) this reduces the strain on the NHS as less individuals will be admitted for treatment

  :( combined treatment is more expensive, which reduces the financial benefit for the economy
• Economic Implications - Attachment:

  > research into multiple attachments has shifted the importance to more shared parenting, and increased the importance of the father in child rearing

  > research has found both parents are equally capable of providing the emotional support necessary for a child to have healthy psychological development
• Economic Implications - Attachment AO3:

  :( fathers are now entitled to shared paternity leave, which costs the economy

  :) due to flexible working hours within the family, it is the norm that both parents earn money, which maximises their income and contributes to the economy
• Economic Implications - Social Influence:

  > research into conformity can be used to influence the economy

  > for example, the finding that individuals have the desire to be right (ISI) has been used by hotels - presenting statistics on hotel guests towel use and water waste had significantly reduced hotel guests' towel consumption
• Economic Implications - Social Influence AO3:

  :) changes individuals' behaviour, such as excess water use, which benefits the environment, which then benefits the economy as less money is used to protect the environment from water waste
• Economic Implications - Eye Witness Testimony:

  > research into leading questions has influenced the economy

  > led to the development of the cognitive interview, to improve the accuracy of an individual's eye witness testimony
• Economic Implications - Eye Witness Testimony AO3:

  :) will benefit the economy because the police spend less resources looking for the wrong suspects

  :) the economy's money is not wasted on inaccurate convictions