Recent information from the Australian Bureau of Statistics shows wealth in Australia increasingly concentrated with 20 percent of the population owning 61 percent of the wealth and the bottom 20 percent owning one percent. The income divide is not so dramatic, but is driven by ownership of property and investments.
John Symons, the smiling face of Aussie Home Loans yesterday called the housing affordibility situation, where housing affordability is at the lowest level for decades, a national social crisis.
This is the real face of the so called prosperous Australia. An Australia increasingly divided by wealth.
5 comments:
What is the real problem with a 'wealth divide'?
Unless you have true communism or a very hard dictatorship (N. Korea) you will always have a wealth divide.
Why do people get so upset at other people becoming rich? If people are upset that poor people don't have enough, then why the fuss over the 'divide'? If (in a 'free market economy') the poor get more money, the wealthy will get even more, basic economics assures it. So no matter what you do for the poor, you will help the wealthy also and the divide will grow.
Philanthropy is commendable, but it must not cause the philanthropist to overlook the circumstances of economic injustice which make philanthropy necessary.
Thus, Lord Nash 1 Colin 2 :)
Apart from Gandhi: Could the death of 30-/40.000 children day by day by day . . . be taken as ONE indication that the "free market" is not the ne-plus-ultra?
If yes, would you agree that cynism is the intellectual cripple's substitute for intelligence?
Thanks for the adrenalin before falling into the feathers. :)
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