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« A Blast From the Past | Main | Did the Gold Standard Cause the Great Depression? »

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Folks who like this kind of stuff might check out a post of mine at Liberty and Power from about 6 weeks ago that addresses the question of income inequality and the ways in which markets are increasing the well-being of the poor and the middle class:

http://hnn.us/blogs/entries/44568.html

This is the story in Australia where the same rhetoric is about. Don't have an electronic copy at hand.

Middle men getting rich quicker
David Uren, Economics correspondent
September 16, 2004
THE poor are getting richer almost as quickly as the rich, but neither are doing as well as middle-income earners.

People living in the poorest suburbs and regions in Australia raised their household incomes by 23.2 per cent between 1996 and 2001.
In the top earning suburbs, the study of affluence conducted by the National Centre for Social and Economic Modelling found people enjoyed an earnings increase of 24.2 per cent over the same period.

Of course the dollar amounts were very different. In the poorest suburbs, the average household had total earnings of $840 a week, an increase of $158.

Average incomes in the richest regions are more than double this at $1488, an increase of $360 a week.

But it is in the middle-income suburbs that income has risen the fastest, increasing by as much as 28.9 per cent over the five-year period.

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