A Short History of Economics

Marilyn Waring
Marilyn Waring is a lecturer, writer and development consultant. She is also a farmer and she says herself that it is this calling that has had the most profound influence on the way she understands the economy. Unfortunately, Waring's ideas have never seriously influenced the way our Canadian economic system works. However, Marilyn Waring has been a great inspiration to many people, especially women, who feel that the current economic system excludes much of life.

Waring says that when economy includes only activities which involve monetary transactions, much of women's productive and reproductive work is excluded. Bearing children, mothering, tending a garden, feeding one's family, milking a family cow, raising sheep for wool you use yourself, all of these are excluded as economic activities and do not find their way into any country's System of National Accounts. In other words, through a traditional understanding of the economy, much of the work of half of the population becomes invisible. (See Julie's story.)

According to Waring, mainstream economics has also not found a way of counting the resources on which valued production is based, namely the earth. For example, activities which involve monetary transactions count as production even when they involve the degradation of the earth's resources, such as strip-mining. A sunset has no value, nor a mountain, and trees only count when they have been chopped down and sold. At the same time, Waring criticizes traditional economics for not finding a way to value community well-being. By current thinking, war and disaster are 'good for the economy' because they create jobs such as arms production and clean-up.

Waring's video Who's Counting? is available at public libraries and universities across Canada as are her books, Counting for Nothing: What Men Value and What Women are Worth and Three Masquerades: Politics, Work, and Human Rights.


www.unpac.ca/economy/historyecon.html