The paper "Working with Communities in Generating Social Policy" is a great example of a management essay. Australia is a country that supports equality. However, over the years, the growth of the economy has benefited the rich and left the poor to suffer. With the decline in the resources of Australia, the gap between the individuals on top and those at the bottom in terms of wealth and income has increased significantly. The richest 20 per cent of families in the country now stands at 61 per cent of cumulative household net worth.
In addition, the poorest 20 per cent of families in Australia stands at 1 per cent cumulatively (Douglas, Friel and Morawetz, 2014). With the passing years, the income share of the poorest 1 per cent has doubled up whereas the income share of the wealthiest of 0.001 per cent has tripled. The poverty line in Australia has increase and people dependant on government benefits have gone below the poverty line. If the issue of financial inequality is not taken care of, the country’ s economic circumstances would make it worse. Advancement of wealth inequality would have an impact on trust and equality of opportunities for poor individuals and finally, it can lead to health and social instability.
Australia is among the lowest taxing nations, the government revenues have gone down by 3 per cent of GDP from 26 per cent. The government revenues have thus become insufficient to fulfil the needs of the citizens in terms of health, infrastructure, and education. There are many factors that have led to wealth inequality in Australia. They include globalization, unstable access to technological change, unstable compensation practices for top managers, large tax exceptions and neoliberal policies in the economy (Douglas, Friel and Morawetz, 2014).
Various practices have been put in place to curb these inequalities. These practices include the creation of job policies, fair distribution of health and education funding, reduction of tax breaks, long term improvement of early childhood education, changing the existing transfer payments via pension, the establishment of trade policy and prevention of ‘ political capture’ by superior companies and individual groups.
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Douglas, B., Friel, S., Denniss, R. & Morawetz, D. (2014). Advance Australia Fair? What To Do About Growing Inequality in Australia. Australia21 in collaboration with The Australia Institute, pp. 12-36.
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