Australia's inequality shame can no longer be ignored

While some income inequality is necessary, too much can curb economic growth and promote poverty. Australia is running out of time to find an acceptable balance between the two.

Eighty-five individuals have as much wealth as the poorest 3.5 billion people.

That’s not even the richest 1 per cent of people – just 85 people – the richest 1 per cent has 65 times the wealth of the poorest half of the world.

Oxfam’s recent paper, Working for the few, paints a remarkable and depressing narrative. It is a story characterised by a rising ‘elite’ society with the financial clout to dominate and capture government decision making, often to the detriment of everyone else.

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