Economic Systems and Mental Health Overview

A compilation of key terms and definitions related to economic systems and mental health care.

Capitalism

An economic system based on private property rights where distribution decisions are made by the free market based on ability.

Socialism

An economic system that combines private and public property rights with distribution decisions made by the government based on effort.

Communism

An economic system based on public property rights with distribution decisions made by the government.

Peak

Economy at full employment.

Recession

A significant decline in business activity lasting from six months to 18 months, marked by declining employment.

Inflation

A sustained increase in prices in the economy.

Stagflation

An economic situation characterized by high inflation and high unemployment.

Mental health disorder

A condition that affects mood, thinking, and behavior, impacting approximately 23% of the population.

Behavioral health condition

A term that encompasses mental health diagnosis and substance use disorders.

Value-Based Care

A healthcare delivery model in which providers are paid based on patient health outcomes.

Public Health

A field concerned with protecting and improving the health of populations through research, policy development, and health education.

Social Determinants of Health

Non-medical factors that influence health outcomes including economic stability, education, and access to healthcare.

Deinstitutionalization

The process of reducing the number of patients in mental hospitals and promoting treatment in community settings.

Equity in Healthcare

The principle that ensures all communities have fair access to health services.

Crisis Mental Health Services

Emergency interventions for individuals with severe mental health issues requiring immediate support.

St. Elizabeth's Hospital

One of the oldest mental health hospitals facing funding shortages and increased demand.

Teleology

An ethical theory that considers the outcomes of actions and seeks the greatest good for the greatest number.

Deontology

An ethical approach that emphasizes duties and rules irrespective of the outcomes.

Natural Law

An ethical theory positing that humans have rationality to determine right actions.

LGBTQ+ Mental Health

Indicates that LGBTQ+ youth are significantly more likely to experience mental health challenges compared to their heterosexual peers.

HIPAA

The Health Insurance Portability and Accountability Act that protects patient health information.

Emergency Medical Treatment and Labor Act (EMTALA)

A law that prevents patient dumping by requiring emergency rooms to provide care regardless of ability to pay.