⭐⭐⭐⭐ “When people feel economically insecure, they grow more defensive, less open and generous, and more suspicious of ‘the Other.’ When life seems like a zero-sum struggle, gains by other groups are interpreted as losses by one’s own group.” Why has income inequality increased so prolifically over the past four
According to Benjamin Franklin, there are just two certainties in this world: death and taxes. Ironically, the same cannot be said about the much-debated ‘death tax’, which has experienced wavering political support in recent decades. Its unpopularity has led many countries to completely abolish the tax, with Australia being the
Last semester, I was introduced to Engel’s Law. In my quantitative methods subject, some students asked about deriving the relationship from income earned and food expenditure for a sample of households. While once regarded as a useful and interesting economic theory, it is now also a cause for worry.
The hukou system has been an indispensable tool in implementing Communist China’s political, social and economic objectives since 1949. By establishing an agricultural production unit and rapid urban industrialisation during the Great Leap Forward and regulating intra-provincial migration to China’s boom areas in recent years, hukou deprives one
This article was featured as part of ESSA’s annual Equilibrium publication. Australia is an incredibly affluent nation, enjoying immense prosperity and one of the highest standards of living in history. Such a state of affairs is rare. With the monetary and political capability to address growing inequalities, one would