Australia’s Widening Wealth Distribution Gap
‘Fair shake of the sauce bottle’, it was Kevin Rudd’s infamous soundbyte, but looking back it seems pretty rich coming from a man married into a net worth near 200 million dollars, given Australia’s huge socio-economic gap. The gap of wealth distribution has only continued to rise since the days of Kevin, but we aren’t really talking about it. Wealth equality isn’t measured by annual earnings, rather by accumulated wealth in assets. This means that 40% of Australians have no net worth, and half of those actually have negative wealth as a result of debts. Like all national economic issues though, it’s hard to get your head around exactly what that means to everyday Australians, and to you. The Daily was joined by Frank Stilwell, emeritus professor of political economics at Sydney university, to explain the issue.
Produced by Phillip Leason
