Biz Tips: Why Our Psychology Could Destroy Small Business and the Economy [Infographic]

Biz Tips: Why Our Psychology Could Destroy Small Business and the Economy [Infographic]

Biz Tip:

Why Our Psychology Could Destroy Small Business and the Economy [Infographic]

The pandemic has caused a spike in businesses like groceries, cleaning products, and even beverage alcohol, but that spike may be short-lived. Other businesses are suffering and dragging the economy down with them. The entire world is facing mass unemployment and the global economy is circling the drain. Civilians and government officials alike are calling to reopen the economy, but reopening too fast has proven to cause new spikes in coronavirus cases. Mask wearing has been proven to curb transmission of the coronavirus significantly, but adoption is spotty at best. People are tired of being afraid and ready to resume life as normal, but will that cause further damage to the economy?

People can only understand a linear threat, but a pandemic is an exponential threat that grows much faster than we can comprehend. Most people think if they are safe for just long enough they have escaped the real danger. Unfortunately the pandemic doesn’t operate that way, and it takes continued vigilance to prevent it from spreading uncontrollably and further damaging the economy.

Masks may be our only hope to both stop the pandemic and save the economy, but the misinformation campaign against them is going to be a force to contend with. That’s because there is so much information out there right now, both good and bad, that people are experiencing information overload. They are having trouble distinguishing between good and bad information because they are being pelted with life or death scenarios on a daily basis and having to rely on the parts of our brains that respond to keeping us alive rather than those that make logical decisions.

In short, the stress of the pandemic is causing people to make poor choices and that is what is really going to destroy the economy and small businesses along with it. Learn more about the psychology behind isolation fatigue and its impact on the economy below.

Infographic source: EduRef

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