What to do about growing inequality in Australia.

On Wednesday 11 June at Parliament House Canberra, former Liberal Leader, Dr John Hewson will launch a report on ‘What do do about growing inequality in Australia’. The report has been prepared by Australia21, ANU and the Australia Institute. The report can be found by clicking on below. It is embargoed until Wednesday at 11am.

Final InequalityinAustraliaRepor (1)

If you would like more information please contact CEO Australia21, c/- Lyn.stephens@australia21.org.

 

John Menadue

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2 Responses to What to do about growing inequality in Australia.

  1. Wayne McMillan says:

    Very good to see that this report was written and serious discussion on this issue has hit the political agenda, Inequality has been a growing phenomenon in Australia and is not something new. Serious progressive Australian economists have documented growing inequality for over 20 years, but their concerns have fallen on deaf ears. Ordinary wages in Australia haven’t kept up with changes in the cost of living now for at least 15 years. Where I live at Mt Druitt poverty is growing with greater unemployment, particularly youth unemployment. Many working and unemployed people in Mt Druitt are doing it tough and are in heavy credit card debt and struggling to provide food, clothing and housing for their families. Unfortunately unions have lost ground in assisting workers and their influence and jurisdiction is waning. Progressive economists for over 40 years here in Australia have attempted to alert and persuade their more conservative orthodox colleagues that income and wealth inequality is endemic to applied economic theories built on flawed axioms. I mention here now the enduring work of Wheelwright, Stretton, Harcourt, Stilwell, Argy, Quiggin, Keen and Mitchell to name just a few, who have made considerable critiques of the orthodox theory and proposed alternative policy approaches.

    Worldwide inequality also appears to have worsened and Thomas Piketty’s new book that is comprehensive and well researched has asked serious questions about Capitalism and its downside features. What worries me however is that the mainstream of the economics profession seems to be oblivious to the GFC and its aftermath, let alone the effects of increased inequality. Here in Australia and worldwide for over 40 years there have been economists challenging the neo-classical synthesis axioms upon which orthodox economics reigns. If we want to seriously combat inequality here in Australia then we need to look at the ideologies, economic theories and policies that perpetuate it. Economists in Australia must now pay due attention to Piketty’s serious research findings, as well as this timely report and take the appropriate action to remedy the underlying causes of inequality and not its symptoms!

  2. Dear John, I just wanted to let you and your readers know that at Australia21 we have recently created some very short videos on inequality in Australia – based on our report you mention in your post. They can be found here:
    Inequality in Australia – http://youtu.be/ANt8a3RlPyc
    Why inequality matters – http://youtu.be/kMmxCTDMYrY
    How to address inequality – http://youtu.be/jYdamsp9aec
    We are very keen to raise awareness and to get conversations flowing among the general public on this topic, so please feel free to share.

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