Measurement of wealth? (1 Viewer)

[eX-Bhai]

I understand how the inequality of the distribution of income can be measured through the lorenz curve or the gini coefficient, but there is there any known measurement (within the HSC syllabus) for inequality in the distribution of wealth?

 

[onebytwo]

there are no official measurements for the inequality in wealth, but highly enthusiastic people carry out surveys. i have no idea how they get information from each person in australia though.

 

[Rafy]

I expressed wealth inequality by looking at the percentage wealth the top and bottom 10% of people controlled. (And you can extend that to everything inbetween as well)

i.e
The top 10% control 70% of the wealth
The bottom 10% control 4% of the wealth...
etc etc.

Just like what you can also do with income. (i.e http://www.colorado.edu/AmStudies/lewis/ecology/incomegr.gif ) Its a good way of showing both income AND wealth inequality.

I'm not sure of the exact wealth figures for Australia. Google.

I have a nice graph in one of my textbooks which shows Australian wealth distribution (By looking at the ownership of assets)

 

[cerene]

Use the HILDA report