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Inequality in Australia
Abstract
This research report examines the problems behind the inequality in Australia in two decades. It will help to develop the understanding towards the factors that are increasing inequality in Australia. For this, this report presents two problems which are contributing to increasing inequality and two solutions to resolve the inequality problems effectively. This research report presents some recommendations to Australia to replace the inequality issues in future.
Keywords: Inequality, Australia, Income
Introduction
For many years, the people of Australia have thought that they were egalitarian. Therefore, they believed that their wealth and income was spread in the order of evenly. But the recent research study conducted by Peter Whiteford (2017) explores that there is a trend in income inequality in Australia. In this context, this research paper presents the problems which are causing the income inequality. Further, this report will present solutions to address the problems with the recommendation that will help the country to replace income equality forever.
Findings
The data released by Oxfam (Oxford Committee for Famine Relief) on January 22, 2018, describes that the average salary/wages of ordinary Australians grew by 36% and wealth of average household increased by 12% (XINHUANET.com, 2018). In this context, the wealth of billionaires in Australia has increased by 140% in 2017 (XINHUANET.com, 2018). Oxfam that is tackling inequality and poverty said that the situation of inequality in Australia is worst in two decades.
As per the analysis of the data released by Oxfam, it can be analyzed that there are some factors that are contributing to such data which is presenting the inequality aspects in Australia.
Problems
1: The main problem that is working behind the income inequality is the difference between people on the basis of their talent. It means the talented people are getting high wages than the non-talented people. This means the Australian business industries are focusing towards the hiring of skilled employees rather than the non-skilled or semi-skilled. Due to this, the number of non-employed people in Australia is increasing. Hence, the gap between the non-employed and employed people is increasing the data of income inequality. According to a research study, the unemployment rate is 9.3% (Institute of Public Affairs, 2018). Due to this reason, the distance between rich and poor people is...