The shared response to the COVID‐19 crisis demonstrates that the vast majority of society believes human wellbeing — not economic growth — should be at the centre of policy. COVID‐19 exposes the foundational role of care work, both paid and unpaid, to functioning societies and economies. Focusing on ‘production’ instead of the sustainable reproduction of human life devalues care work and those who perform it. Women’s physical and mental health, and the societies that rely on them, are at stake. When these policies are formulated, the field of feminist economics has valuable lessons for mitigating hardships as countries navigate the related economic fallout. A comprehensive response to the COVID‐19 crisis must recognize this gendered work as an integral part of the economic system that promotes human wellbeing for all.