Description
Australia is one of the wealthiest countries in the world and has long prided itself on being an egalitarian society. However, there is a growing divide between those with the most and those with the least. Income inequality has grown as the minimum wage and unemployment benefits have failed to match the rise in average earnings, resulting in a divergence between low-income earners and average Australian wage earners. Current estimates indicate that senior executive pay is 150 times greater than average weekly earnings. In addition to income disparity, wealth in Australia is also unequally distributed, with household wealth being heavily skewed to ‘real assets’ – essentially, property ownership. How are income and wealth inequality measured in Australia, and what are the impacts of this rising inequality? Should we be trying harder to bridge the gap between the ‘haves’ and ‘have-nots’? Chapter 1: Measuring income and wealth inequality Chapter 2: Impacts of the wealth divide Worksheets and activities; Fast facts; Glossary; Web links; Index
