Answer to Question #220509 in Macroeconomics for Bishal

Question

Is it justifiable to exclude homemakers’ value creation from national income?

Answer 1

Traditionally, in Indian society, the contribution of housewives to family and economic development has been weakened and often not recognized at all.Traditionally, in Indian society, the contribution of housewives to their family and economic development has been weakened and often not recognized at all.In this patriarchal structure, many people think that women are "unsuitable" for the role of housewives.However, the times have changed. Various laws and resolutions have been passed to recognize the equality of people of different genders, but what has not been recognized is the contribution of different people in different ways at the micro and macro economic levels. Interestingly, to understand the contribution of housewives to society, at least economically, some completely unfamiliar laws are needed.This is not the first time that such income has been calculated on a theoretical basis, but the careful analysis and rationale for this judgment is commendable.