<
https://www.theguardian.com/business/grogonomics/2025/jun/12/wealthy-australians-are-worried-we-might-realise-how-rigged-the-system-is-in-their-favour>
"We need to talk about wealth. The latest dwelling price figures reveal that
for the first time the average home price across the nation is above $1m. While
that will quite rightly have people concerned about affordability, we need to
also think about what this means for wealth and just how unequal our society
has become.
A couple of weeks ago the
Australian Financial Review released its latest 200
richest list. It was a list of wealth, not income. Income is how much you earn
over a set time – usually a year – whereas wealth is the value of everything
you own right now.
And my goodness, the wealth of the richest 200 has grown.
My colleague at the Australia Institute, David Richardson, calculated that in
2004 the combined wealth of the AFR richest 200 was equivalent to 8% of
Australia’s annual GDP. Now they are worth 24.5% of our annual GDP.
Over the past year the wealth of the richest 200 has increased 6.9% to $667.8bn
– well ahead of the 3.4% increase in wages."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
