Exploring the Hierarchy of Needs and American Economic Disparities

Presenter

George J. Wagner

Campus

Middlesex Community College

Sponsor

Pavithra Giridharan, Department of Psychology, Middlesex Community College

Schedule

Session 3, 1:30 PM - 2:15 PM [Schedule by Time][Poster Grid for Time/Location]

Location

Poster Board A95, Campus Center Auditorium, Row 5 (A81-A100) [Poster Location Map]

Abstract

Within the last five years (2019-2024), the American economic disparity and rapid class divide have resulted in a fractured society for the American people that will be analyzed and interpreted through the lens of influential psychology pioneer Maslow's "Hierarchy of Needs: Physiological, Safety, Love and Belonging, Esteem, and Self-actualization." The Hierarchy of Needs and Economists alike interpret the ranks of an individual's wants and needs. Despite increasing inequality, most US households have seen a modest income and wealth expansion. COVID-19 ended the Long Recovery and expansion after the Great Recession. The studies analyzed discuss the shortages, inflation, and GDP since the start of COVID-19 and how our current economic tension. Using the statistical evidence and information provided by varied organizations, the Federal Reserve Board (FRD) and The National Institute of Health (NIH), we can draw strong connections between our economy and the psychological needs of the American people. The rise in mental illness resulting from the failure and limitations of the American economy on the average citizen demonstrates the shortcomings of the American economic system and the connections between the US economy and Americans' psychological needs and wellness. A "first world" economy does not offer a panacea for mental health ills. This project will consider the correlation between economic and mental health by reviewing and presenting data demonstrated by statistical indicators.

Keywords

Hierarchy of Needs, COVID-19, Economic, GDP, Inflation

Research Area

Psychology and Behavioral Sciences

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