Incorporating care into economic models: a mostly macro agenda

Abstract This article develops a comprehensive framework for integrating care into macroeconomic models. Moving beyond treating care as merely a constraint on women’s labour force participation, I position it as a productive process essential to developing human capabilities—which have both intrinsic value and instrumental importance to economic outcomes. The article distinguishes human capabilities from narrower conceptions of human capital and argues that care provisioning should be recognized as a public good with profound macroeconomic implications. By systematically addressing integration challenges—including reconceptualizing GDP as a means rather than an end, reformulating investment to include human capabilities development, and examining the complex relationship between care quality and economic outcomes—the article establishes a transformative research agenda with significant policy implications. Our analysis of dynamic considerations, particularly demographic shifts and structural transformation challenges, demonstrates how care-centred approaches offer fresh insights into pressing development issues. Rather than proposing a single all-encompassing model, I advocate for methodological pluralism that can capture the multifaceted nature of care while remaining analytically rigorous. This approach not only enriches theoretical understanding but also equips policy-makers with more effective tools for promoting equitable, sustainable, and care-inclusive economic development—bridging the gap between feminist economic theory and practical policy applications.