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Income Inequality

Despite almost two decades of economic growth, is society in a measurable better position? Or have the beneficiaries been the already rich?

Gross Domestic Product

This chart shows Australia’s GDP history, courtesy of Wolfram Alpha:

Gini Coefficient

The Gini Coefficient is a measure of income inequality. As the number grows nearer 1, the level of income inequality increases.

Australia’s Gini Coefficient has increased over time, reflecting a growing gap between rich and poor.

Income Growth

As at March 2019, regarding income growth (or lack thereof):

Income growth over recent years has been sub 3%. It used to be 6%.

— RBA governor Phillip Lowe

See Also

income_inequality.txt · Last modified: 2019/03/06 05:20 by admin