Economic Factors Reflecting Extreme Psychological Impact

There is a significant correlation between mental health and socioeconomic dilemmas such as unemployment, and poverty due to economic recession. During the COVID-19 pandemic, suicides considerably increased, which is typically correlated to severe poverty and unemployment. Here we’ll investigate the unmitigated impact of recession on mental health in the absence of interventions, that meaningfully support and expand upon the limitations of the
formalism of the disembedded economy.

In 2013, the Guardian reported on an incidence of an intern employed at a financial company after working for long hours. Sleep and rest are generally emphasized as significant aspects of health, as their deficiency could lead to seriously adverse outcomes, as indicated in these two cases. Company practices, such as allowing employees to work for long hours without rest or delegating of many tasks within a short time frame, significantly impact the psychological health of their employees. This is more than supported by "COVID-19-related suicides in Bangladesh due to lockdown and
economic factors: case study evidence from media reports." from the International journal of mental health and addiction; which connects the economic and social impacts of Covid-19 to many cases of suicides. 

The time for businesses to strictly impose policies or interventions that minimize mental issues among employees is now. Critically, a disembedded economy champions practices and activities which only serve to promote profits, given this attitude the case of Moritz Erhardt was inevitable. He was benefitting his company by maximizing profits and nothing more – this is how disembedded our economy is. This is what preeminence in profit, and disregard for real and important dimensions of life and experience yields. The lack of morality in disembedded economies encourages employers to exploit employees by requiring them to work for long hours to maximize profit. This consequently impacts employees mental health leading to death, as
proven by this tragedy. Likewise, it is undeniable that economics are not indeed independent when analyzing the impacts of the COVID-19 pandemic, which, as the COVID-19 article establishes, has led to many suicides and a rise in unemployment and poverty. In conclusion, economies are embedded in other aspects of life, such as social and psychological welfare whether we like it or not, it is essential for companies to balance priority between profit maximization and employee welfare.