The Value of Work

Economic and non-economic activities, wages and salaries, and why household and voluntary work have value even when unpaid.

Key ideas

• Economic activities are done to earn money or produce things sold for money.
• Non-economic activities are done out of love, care or service, without pay.
• The same activity can be either: cooking is economic for a restaurant cook and non-economic for a parent at home.
• Household work keeps a family fed and healthy; if someone were hired to do it, it would cost money.
• Voluntary work is done by choice to help others, such as cleaning a park.
• Every kind of work, paid or unpaid, helps society and deserves respect.

Remember

Watch out

• Saying unpaid household work has no value.
• Sorting by the activity instead of the purpose: cooking can be economic or non-economic.
• Mixing up a wage (by the day or week) and a salary (monthly).

Worked example