Marilyn Waring: The unpaid work that GDP ignores -- and why it really counts

The video discusses the limitations of GDP as a measure of economic success, highlighting how it fails to account for unpaid work and environmental degradation. The speaker shares personal stories to illustrate the societal values overlooked by GDP. Alternatives like time use surveys are proposed to better capture economic realities and inform policy making. The video concludes with a call to action for rethinking economic measures to better serve humanity and the planet.

What was the main issue faced by the woman injured in a farm accident?

• She received compensation for her injury.

• Her family was compensated for her mother's help.

• Her family received no compensation for her mother's help.

• She was able to manage the household alone.

What is the primary focus of GDP according to the speaker?

• Including all household activities.

• Valuing environmental conservation efforts.

• Measuring all types of work, paid and unpaid.

• Counting only market transactions, legal or illegal.

How does the GDP framework view environmental conservation?

• As a valuable contribution to growth.

• As an activity worth nothing.

• As a key component of economic success.

• As a primary driver of GDP.

What did the UK statistician declare about unpaid work?

• It is more valuable than the entire market sector.

• It is equivalent to all manufacturing and retailing.

• It is not significant in the economy.

• It is less valuable than manufacturing.

What is the largest sector of Australia's economy according to the speaker?

• Unpaid childcare.

• Manufacturing.

• Retailing.

• Banking and insurance.

Why is GDP considered inadequate in the modern global economy?

• It accurately measures all economic activities.

• It fails to account for global digital transactions.

• It includes all unpaid work.

• It is the best measure of economic success.

What alternative measure does the speaker propose instead of GDP?

• Time use surveys.

• Increased market transactions.

• Ignoring unpaid work.

• More focus on GDP growth.

What does the speaker suggest is necessary for good policymaking?

• Relying solely on GDP figures.

• Ignoring unpaid work.

• Making the largest sector of the economy visible.

• Focusing only on market transactions.

What does the speaker believe about the most valuable things on Earth?

• They should be included in GDP.

• They should remain outside the GDP framework.

• They are less important than economic growth.

• They are adequately valued by GDP.

What does the speaker emphasize about indigenous knowledge?

• It is irrelevant to modern economics.

• It should be ignored in policymaking.

• It offers valuable insights for sustainability.

• It is already well-integrated into GDP.