American childcare is broken — and the people who need it most can't afford it. If children are the future, we have to consider it an investment. (by paulconstant)
economist Kate Bahn discusses how, prior to the pandemic, those who most needed pre-K childcare were the least likely to be able to afford it.
"Even families who otherwise may be financially secure still face a lot of constraints when trying to get high-quality accessible childcare," Bahn said. The economic costs of care work are about more than just the high price tag of services. Without childcare providers, caregiving falls on the parent. And when it comes to the costs incurred by unpaid caregiving, the gender divide is tremendous.
"Mainstream economic paradigms have a really hard time acknowledging the central role of caretaking as a foundation to our entire economy," Bahn said. So because it's difficult to calculate and monetize caretaking, and because the value of care work pays out across decades and not within a financial quarter, our economy views care work "as coming from a place of altruistic motivation, that shouldn't be worth fair pay or shouldn't be seen as a economic policy priority, because people should just be doing it because they love it," Bahn said.
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