Psychology and the Economy

Memory
1. Eye Witness Testemony
  1. Research into eyewitness testemony caused the form of the cognitive interview.
    1. This prevents leading questions and therefore gets a more accurate recall of events. This leads to the right people being caught for the crime which therefore saves money as less time is wasted if the wrong suspect is put to trial.
2. Brain scans
  1. This can help see which areas of memory are effected. This means NHS money can be specifically targeted at the affected areas which does not waste money and means people of working age can return to work which then benefits the economy as there are more people working and paying taxes.
Attatchment
1. Research into Maternal Deprivation
  1. Bowlby's 44 Thieves Study
    1. This can help reduce the likelihood of people becoming affectionless psychopaths which will mean they are less likely to commit crimes when older and therefore this reduces costs of the legal system
    2. The research demonstrates the importance of attachment especially in younger years (Critical Period) and emphasises the importance of extra investment into facilities and staff so the orphans can form a secure attachment. This will lead to increased likelihood of the orphans getting a good job in the future and therefore contrubuting to the economy but also reducing the likelihood of them becoming affectionless psychopaths and leading a life of crime which will cost money in the legal system.
    3. A negative of this is that attatchment figures are more likely to feel obliged to stay at home and care for their children because the 44 thieves study shows the impacts of maternal deprivation. This can cost money to the economy because when they are off work they will get paid maternity leave and also if they are not working they are therefore not contributing to the economy.
Social
1. People can be educated on obesity and the impacts of obesity using minority influence and the snowball effect and convincing people to stay fitter and healthier. If people are healthier and iffter there is less cost to the nhs because there is less need for treatment of diseases like type 2 diabetes and coronary heart disease therefore benefiting the economy.
2. Use of NSI in order to encourage people to lose weight by making them feel as though being overweight is abnormal and therefore provoking a change in their diet therefore less money spent on treatment through the NHS.
3. People conforming to authority and the law and increasing conformity to the law reduces crime rates and therefore reduce money spent on policing and the justice system which therefore improves the economy
4. Stanford Prison Experiment
  1. Improving the standard of prisons and prison guards in order to reduce psychlogical harm on prisoners and therefore reducing the amount of repeat offenders and therefore reducing costs spent on the legal system and saving money in the economy
Psychopathology
1. Drug therapy takes little time out of peoples lives and SSRI's have been proven to reduce the symptoms of depression and therefore people can return to their jobs and have minimal time off work and therefore be benefiting the economy whilst in work. Also because the treatment is not very time consuming it means the NHS can spend more time focusing on other issues.
2. Beck's Theory
  1. The theory found that CBT and drug therapy combined are the most effective but are time consuming which can be costly for the NHS and therefore the economy.
3. People experiencing depressive episodes may not be able to go to work and therefore are not contributing to the economy and also could be having paid sick leave.
4. Definitions of abnormality
  1. People that fail to function adequately may not have jobs meaning they are not paying taxes and could be claiming benefits therefore are not benefiting the economy.

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Psychology and the Economy

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	Created by Ben Moss over 7 years ago