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- Nov 2021
Many studies have been undertaken on the value of unpaid domestic and care work, which is also non-market, non-transactional and not included in formal economic accounts. Similarly, the unpaid care work for the wider community is missing off the balance sheet. Both are essential for the functioning of the economy that is counted.In Australia, this was estimated to be almost half of the country’s GDP, with those statistics from over twenty years ago. More recent statistics for the state of Victoria reveal a similar picture.
These studies illustrate the huge under appreciation of the value contribution of the commons and work not showing up on GDP, the dark matter of GDP.