The work argues that "this framework is biased in a way that prioritizes income-maintenance aspects of social security policy above all others." McKay was a founding member of the Scottish Women's Budget Group, a founding member of the European Gender Budget Network, a board member of the Jimmy Reid Foundation and chairperson of the European chapter of the International Association for Feminist Economics (IAFFE). She was noted as a proponent of Scottish independence and a citizens' basic income. She was also a contributor to the Jimmy Reid Foundation's Common Weal reports, including a report on welfare which was published after her death. McKay was a noted and early proponent of the basic income concept. She argued in 2001 that "social policy reform should take account of all gender inequalities and not just those relating to the traditional labor market" and that "the citizens' basic income model can be a tool for promoting gender-neutral social citizenship rights." Her final academic work is "", a new anthology in the field of feminist economics that went into print just days before her death, that aims to map the development in the field in the last two decades. In the opening chapter, "Advances in Feminist Economics in Times of Economic Crisis," McKay and her co-editor Margunn Bjørnholt call for a reshaping of the economy, economic theory and the economics profession, taking into account "advances within feminist economics that take as their starting point the socially responsible, sensible and accountable subject in creating an economy and economic theories that fully acknowledge care for each other as well as the planet." The book was described by Winthrop Professor of Economics Alison Preston as "a timely reminder of the politics and economics underpinning what, how and by whom activities and outputs are valued. For those concerned with social justice and sustainable futures, this important and powerful book provides an invaluable and practical insight into issues that are in need of greater visibility." Economics commentator Maria Reinertsen compared the book to Thomas Piketty's "Capital in the Twenty-First Century", arguing that "while Thomas Piketty's bestseller "Capital in the Twenty-First Century" barely tests the discipline's boundaries in its focus on the rich, "Counting on Marilyn Waring" challenges most limits of what economists should care about." According to "", the book explores "a wide range of issues—including the fundamental meaning of economic growth and activity to consumption, health care, mortality, unpaid household work, mothering, education, nutrition, equality, and sustainability" and reveals "the breadth, depth, and substance that can grow from innovative ideas and critical analysis."