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Unpaid work
Unraveling GDP's Limitations in Recognizing Unpaid Contributions to the Economy
December 4, 2023
How does GDP account for the value of unpaid work, such as household chores?
GDP fails to encompass the value of unpaid work, like caregiving or household tasks, despite their significant contributions to the economy. These activities, essential for societal functioning, remain unaccounted for in GDP calculations, resulting in an incomplete representation of a nation's economic output and welfare.
Tags : GDP , Unpaid Work , Household Chores