Inequality worsening, but Australia better than most

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By Leith van Onselen

The OECD has released a new report on inequality today, which revealed that two-fifths of the populations of developed countries have gained little over recent decades, driving rising income and wealth inequality that is damaging economic growth.

The report finds that wealthiest 10% of the population now earns 9.6 times the income of the poorest 10%, and that this ratio is up from 7:1 times in the 1980s, 8:1 in the 1990s and 9:1 in the 2000s.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.