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Inequality is growing, but it is also changing as Australiaís super rich evolve

Salvatore Ferraro writes in The Conversation (15.7.19) about the increasing inequality between the richer and poorer members of Australian society, and how the 'wealth gap' is changing in nature.

'Since the surprise re-election of the Coalition, there has been renewed debate about the role the “aspirational” Australian played in the final outcome. The debate is taking place against the backdrop where income inequality has been growing in most developed countries over the past half-, including in Australia.

'Bureau of Statistics figures released on Friday show that the wealth of Australia’s wealthiest households has grown much faster than the wealth of the rest.

'... The Productivity Commission finds that in Australia, a person in the top 10% of wealth distribution has 40 times as much wealth as a person in the bottom 10%. That person has four times as much income.'

 

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