Emeritus Professor Gary Martin (formerly CEO of the Australian Institute of Management) appears to be the source of a new economic expression.
As far as I can discover he is the person who coined the linguistic label ‘the Grandparent Economy.’
What does he mean by that?
The phrase means that grandparents are now making a significant economic contribution—especially in what is called the ‘care sector’ of the Australian economy.
He quotes a national survey of 2,000 parents conducted last year which revealed that more than half of those parents surveyed rely on some form of grandparent care.
The survey was conducted by Australian National University’s Centre for Social Research.
What was uncovered was the amount of support to families now provided by grandparents—babysitting, then childcare (as the grandchildren get older), being part-time chauffers, after school supervisors and emergency carers.
The term ‘the grandparent economy’, says Gary Martin, refers to the informal, unpaid care and support provided by grandparents that allows modern family life—and the broader economy—to keep functioning.
I suppose the notion is that if grandparents look after the kids, that means there is money that parents don’t need to spend—or, possibly, simply do not have available to spend—and this keeps the wheels of the economy turning.
(Which is a big shift for this current generation of grandparents—the grandparents of earlier generations did not do nearly so much!)
So far, the expression ‘grandparent economy’ is not listed in any of the major dictionaries—not even in the online Urban Dictionary that is often ahead of the curve on new expressions.
So, will it one day make it into the dictionaries?
Has Gary Martin made a permanent contribution to the English language?
We will have to wait and see.
As I have explained so often it is usage that determines which new words make it into the dictionaries.
So, if others see value in Gary Martin’s coinage, and take it up and start using it, then (and only then) will it make it into the big lists of the big dictionaries.
Meanwhile, those of us who are grandparents will go on looking after our little grandchildren because they are just delightful little kids.
And we’ll do that even though we find it exhausting!
(When our own children were that age, we were a lot younger!)
Tonight, I'll join John Stanley on 2GB, 4BC, 2CC and the Nine Radio Network for 'The Word Clinic' -- right after the 10pm news (9pm in Queensland). This is your opportunity to call or text with any question or comment on words or language that is on your mind.
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