Can Money Buy You Mental Health? The Effects of Economic and Non-Economic Factors on Mental Health

Authors

Daniel J. MaischFollow

Abstract

This research paper examines the correlation between economic and non-economic factors and mental health. The Mental Health Hygiene Movement began in 1908 and led to the development of a new field of economic study: Mental Health Economics. Existing economic theories are applied to determine how pecuniary and non-pecuniary factors interact with mental health. Data from IPUMS Health Survey was used to run two linear regression models to evaluate how individuals’ social position, human capital characteristics, and demographic characteristics influence their mental health. Results social position, unemployment, educational attainment and mental health. Implications of the results suggest further analysis of mental health economics and policy reform for businesses and the government.

Recommended Citation

Maisch, Daniel J. (2022) "Can Money Buy You Mental Health? The Effects of Economic and Non-Economic Factors on Mental Health," The Park Place Economist: Vol. 29
Available at: https://digitalcommons.iwu.edu/parkplace/vol29/iss1/8