• # The notional monetary value of the housewife's work

Housewives do a lot of household work which is not easily measurable in terms of the monetary value as they do it as their responsibility and not as a paid job. But we can always find out the notional value of this round the hour job executed by a house lady to keep her family in a happy and good mood. In terms of the money, the labour cost and time value considerations of household work will give a figure of at least Rs 8 to 12 thousand per month (it could be much more also) and if we extrapolate this amount over a period of say 60 years (as I have seen house ladies working even at an age of 80-85 years) then it would become a sum total equal to the tune of about Rs 60-70 lac. As that money is generally held with the house lord, it would actually be more as interest earned on it would make it to reach almost Rs 1.5 crore. No housewife is going to claim this as she gets whatever she wants but notionally her efforts and labour are equivalent to that sum. How do you take and comment on this approximate calculation?
• I agree that the house wife's work is not measurable. But the author tried to give some value to that work. It is true that she deserves that money. Similarly, a gent is also going out and working out His earnings are not seen as his own money. It is seen as the money of the family. How much money he is utilising for him and how much money he is spending for others. In a family, if we start converting everything to money, it will become very difficult. It is a collective issue. WIfe and husband can earn and both of them can work together in the house. The children are their common property.
drrao
always confident

• Yes, the Economist have argued to measures the value in two ways:
1.The opportunity cost method and
2.Replacement cost method.
under first method what is the opportunity cost of housewife's time in alternative works are taken ,suppose a female lawyer earned Rs.100 per hour and she decides to forgo an hour of work to prepare a dishes, the cost of that task is Rs.100. Thus the value of one hour of housewife will be Rs.100.
Under the 2nd method how much would cost to replace the services of a housewife? like wages of different services that could get from wife and make the average and this will be the service value of housewife.
The above concept is by Douglas W.Allen Professior of economics, Simon Fraser University.
But in the light of Indian ethic, the contribution of Housewife is an unlimited one and can not be valued in terms of money nor in terms of notional value.
She is suppose the Mothers(Janani) of the Family.

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