Accounting for the unpaid care economy can drive progressive policies such as paid family leave, social security credits for early childcare, tax credits, and quality early childhood education.

The quote by Sri Mulyani Indrawati, "Accounting for the unpaid care economy can drive progressive policies such as paid family leave, social security credits for early childcare, tax credits, and quality early childhood education," highlights the importance of recognizing the unpaid care economy in shaping fair and inclusive policies. The unpaid care economy refers to work such as childcare, elder care, and household responsibilities—tasks often performed by women—that are essential for society but are not reflected in economic statistics like GDP. By properly valuing this invisible labor, governments can design progressive policies that support families and promote equality.

The origin of this statement lies in Indrawati’s role as an economist and finance minister of Indonesia, as well as her past work with the World Bank. She has consistently advocated for policies that acknowledge gender disparities in labor and the need for structural reforms to create more inclusive growth. Her focus on the care economy reflects a global policy conversation about how traditional measures of economic performance overlook vital but unpaid contributions, particularly by women.

The deeper meaning of the quote lies in its call to transform recognition into action. By factoring the unpaid care economy into national accounting, policymakers are more likely to introduce supportive measures like paid family leave, social security credits, tax benefits, and early childhood education. These reforms not only reduce inequality but also strengthen long-term economic growth by investing in human capital and improving labor force participation, especially among women.

Ultimately, Indrawati’s words stress that economic progress is not just about markets and profits but also about valuing the social foundation that makes them possible. By acknowledging and supporting unpaid care work, societies can move toward greater equity, improved quality of life, and sustainable development. Her quote serves as both a critique of traditional economic thinking and a vision for more inclusive and humane policy-making.