Are the rich getting richer and the poor getting poorer?

29 September 2011Wealth seems to be more equally distributed than income in Australia, writes Peter Whiteford in Inside Story, but interpreting the data can be complex

AUSTRALIANS like to think of themselves as egalitarian, and for much of our history we believed our income and wealth was spread around relatively evenly. For many years the world shared that view: as early as the 1880s, visitors remarked on our relatively equal distribution of wealth, the lack of visible poverty, our generally comfortable incomes, and our relatively few millionaires. As late as 1967, prime minister Harold Holt could say that he knew of no other free country where “what is produced by the community is more fairly and evenly distributed among the community” than it was in Australia. From the 1980s onwards, however, this view of Australia came under scrutiny. As the historian John Hirst wrote: “‘Egalitarianism – see under myths’: so runs the index entry in a standard sociological text on Australian society…”

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Noticeboard

22 March 2012

The Attorney-General's Department has launched a new inquiry to explore the scope for reforming Australian contract law. There will be a three-month consultation period.

07 March 2012

In May 2011 the Federal Government announced that the Australian Charities and Not-for-profits Commission (ACNC) would commence operations from 1 July 2012 and that it would initially be responsible for determining the legal status of groups seeking charitable, public benevolent institution, and other not-for-profit (NFP) benefits on behalf of all Commonwealth agencies. 

07 February 2012
The Productivity Commission has been asked to report within 8 months on Default Superannuation Funds in Modern Awards. The inquiry covers the design of criteria for the selection and ongoing assessment of superannuation funds for nomination as default funds in modern awards.