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The purpose of this article is to establish that Kenneth E. Boulding, an economist whose work also encompassed many other disciplines, provided a valuable insight within the study of psychology. Boulding observed that while in an economic unit there is a store of financial capital which is necessary for continued existence, also in human nature there is a need for a reserve of psychic capital that is vital for the mental health of the individual and society. Psychic capital does this by providing a link consisting of positive feelings shared between the individual and the larger grouping. Boulding proposed that a coherent body of thoughts, memories, and emotions may be shared between individual and collective minds as shared psychic capital. Finally, some present-day examples are given whereby the consequences of a loss of psychic capital have been observed with particular emphasis on collective depression and suicide.

Item Type:	Refereed Article
Keywords:	depression, identity, psychic capital, social alienation
Research Division:	Psychology
Research Group:	Other psychology
Research Field:	Other psychology not elsewhere classified
Objective Division:	Expanding Knowledge
Objective Group:	Expanding knowledge
Objective Field:	Expanding knowledge in human society
UTAS Author:	Bostock, WW (Dr William Bostock)
ID Code:	148486
Year Published:	2021
Deposited By:	Office of the School of Social Sciences
Deposited On:	2022-01-14
Last Modified:	2022-03-17
Downloads:	2 View Download Statistics