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.
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