3 ms·
Ok, here's a question for you: back in ancient days, most women worked at home. Is taking care of your own children and your own household an economic activity
by mcguire 4y ago
Ok, here's a question for you: back in ancient days, most women worked at home. Is taking care of your own children and your own household an economic activity as would count in GDP, for example? Is someone making a bowl of soup for their spouse different from someone making a bowl of soup at a homeless shelter?
"GDP measures the market value of the goods and services a nation produces. Unpaid work that people do for themselves and their families isn't traded in the marketplace, so there are no transactions to track. ... The lack of reliable data influenced the decision to leave household production out of GDP in the internationally accepted guidelines for national accounting." (https://www.bea.gov/help/faq/1297 https://www.bea.gov/help/faq/1297)
"Economic activity" that does not equate to "money changing hands" in some form, isn't an "economic activity" that counts for GDP or productivity, right?