Adam Smith is known to be the father of capitalism and modern economics. Surely many billionaires will agree with their postulates. However, there is data from the economy that Smith did not take into account, for example, domestic work.
According to the Swedish journalist Katrine Marçal, author of the book Who Was Making Adam Smith's Dinner ?, the famous economist never considered in his theories the relation of the work that is done above all by women in the home with the economy of a country .
Smith himself is a clear example: he only had time to focus on academic life because he did not have to cook or clean. His mother was the one in charge of all this.
«All his life he dedicated himself to take care of his son; When it came to answering the question of how we got our food to the table, she was the part that Adam Smith overlooked, "explains Marçal.
Household tasks or care activities such as raising children, making food, preparing food, cleaning the bathroom or sewing clothes are not taken into account within the countries' Gross Domestic Product (GDP). However, if someone did not do it, it would be humanly unfeasible to live and go out to work and produce so that the world can continue to function. That is, it would directly affect the labor market and companies, according to Marçal.
So taking into account the family life (which ensures the constant replenishment of the workforce) and domestic life, which is currently mostly restricted to women, is the key detail for the good of the economy. Washing dishes at home also helps sustain the country's economy, did you know?