Social Wealth Economic Indicators for a Caring Economy

Abstract

This essay introduces the reader to an entirely new set of measures that are urgently needed by policymakers and business leaders to foster personal, business, and national economic success. Social Wealth Economic Indicators are measures suggested by a partnership model of society, and they inform us that care work matters tremendously but is grossly undervalued. In our contemporary knowledge-service economy, the essential ingredient for social and economic progress is high-quality human capital, and the way to build such human capital is to support the work of caring and caregiving, traditionally considered “women’s work.” The data presented in this essay clearly show that early childhood care and education, family-friendly workplace practices, and the status of women are key determinants of economic success. But they are also necessary for healthy, creative, and cohesive societies in which members work in partnership with each other and with the natural environment to improve living conditions for all. This is the true meaning of social wealth.