Letter: Raising a family is economically productive

Published in the Financial Times.

On page 1 of your June 20 edition is a graph which shows women who are “looking after family” as “economically inactive”. What nonsense.

Keeping a household going, raising children and caring for family members is a most productive economic activity — far more productive than, say, marketing cryptocurrencies.

Your mistaken graph is part of the same confusion that thinks cooking in a restaurant is production, but cooking at home isn’t; that working in a day care centre is production, but bringing up your own children isn’t; that growing food to sell is production, but growing your own food isn’t; that painting a room for money is production, but painting your own room isn’t. It’s a pretty silly conceptual mistake. The Financial Times apparently has forgotten that the root meaning of “economics” in Greek is “management of a household.”

Alex J Pollock

Senior Fellow, Mises Institute

Lake Forest, IL, US

Also cited in a following letter:

Letter: At last some recognition for the housewife

In response to the letter by Alex J Pollock (“Raising a family is economically productive”, June 27) I say “hear, hear” and “thank you”!

At last, women who’ve been or are full-time housewives for years are being given recognition as being valuable contributors to the economics of everyday life.

It seems we have saved the “breadwinners” a fortune by rearing the children, doing the cooking, the gardening, painting, walking the dogs, doing the laundry and being a chauffeur.

We also have the time to help with non-profit-making activities in the community. I remember a quote from the late Anita Roddick: “If a woman can run a home, she can run a business”.

It’s a good life too; we are our own bosses, every day is different and it’s up to us to use our free time well.

Sarah Tilson

Kilternan, Ireland