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The Biopsycholosocial (BPS) of Economic Development

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The Biopsychosocial model (BPS) seeks to understand economic social development through the Epistemology, Anthropology, and Ethics. All economic systems are fundamentally based in human development. By broadening the scope of economic theory beyond the limited perspectives of finance a greater “truth” can be found. The authors Canadas & Giordano (2010) postulate that using additional constructs helps balance out the limited assumptions of major economic models.  All economics is based off of innovative development. This development is inherently social by nature but also includes biological development and psychological processes. Humans make decisions at a very fundamental neurological level which impacts the decisions they make.   These decisions impact how the economy develops and the decisions society makes. Epistemological Component : Understanding how people make decisions impacts the overall success of the economy and the way in which the economy leans. Milto