Australian Trends in Wealth Inequality

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The distribution of economic wellbeing is a key indicator of a society and is a function of inequalities in income, wealth and consumption. However, almost all studies have relied upon income as the sole measure of economic wellbeing. The omission of wealth overlooks that wealth provides security, freedom and power. These features are not captured by income alone. This book attempts to enhance our understanding of the distribution of economic wellbeing and inequality in Australia by using wealth as the measure. It provides trends and estimates of the level and inequality of wealth in Australia at the current time. It estimates future wealth inequality. Finally, it provides some insights into a number of wealth-related social policy questions. The author is able to these very detailed projections through the use of a technique not previously employed in Australia to estimate wealth - dynamic microsimulation. This book should be especially useful to microsimulation modellers, social policy researchers, those with an interest in the economic impact of an ageing population, or anyone interested in trends in wealth inequality.