Henry George On Wage Inequality Analysis
If you think widening gender pay gap was an issue of the past for advanced economies such as Australia, think again. Recent statistics have revealed that Australia has plunged behind our OECD counterparts since its peak at 2004 due to a reverse trend arising in the past decade. Extensive media coverage combined with feasible policies and institutions have arisen in an attempt to tackle the issue however none seem to have successfully eradicate it. Consequently, leading us to search for a plausible resolution from historical and notable economic icons such as Henry George. Whose advice may assist our nation in reducing the gender wage inequality or abolishing it altogether. George published numerous remarkable texts and theories, on the eventual
…show more content…
Through adapting the phenomenon of rising wage inequality with his contextual framework and distinct style of seeing economics, unique remedies will develop helping us alleviate this issue.
In the 1800’s Henry George was said to be not only one of the most illustrious men in the United States, but also had an enormous following in places such as Denmark, UK, Australia and New Zealand. This particularly after the success of his book Progress and Poverty, in which he gave birth to concepts such as single tax system and Georgism. These concepts will be profoundly discussed later in the report. However, all his success didn’t come easy. It all began when George was born into a lower middle class family and although he was regarded brainy by his teachers, he ended his formal studies by the age of 13. He headed to Melbourne and …show more content…
A series of proposals and institutions will have to be implemented to tackle this phenomenon as a single handed policy is not component enough to resolve it fully. Close study of the factsheet composed by Average Weekly Earnings (AWE) survey findings single out the 5 specific areas that are impacting the wage gap destructively. All of them of which are listed bellow.
1. The pay gap is found to be higher in private sectors than public companies or state authorities.
2. Finance and insurance services have the largest percentage of gender pay gap in Australia.
3. Another amusing fact that emerged from the study conducted was that companies in the field of consultation, IT, Air Industries to the least effort to address the gender pay gap issue.
4. Inequality is found out to be higher in managerial positions at 28.8%, a considerable 7% higher than non managerial positions.
5. A massive 73.7% of the organisations surveyed have not conducted a gender pay gap analysis throughout their
Through adapting the phenomenon of rising wage inequality with his contextual framework and distinct style of seeing economics, unique remedies will develop helping us alleviate this issue.
In the 1800’s Henry George was said to be not only one of the most illustrious men in the United States, but also had an enormous following in places such as Denmark, UK, Australia and New Zealand. This particularly after the success of his book Progress and Poverty, in which he gave birth to concepts such as single tax system and Georgism. These concepts will be profoundly discussed later in the report. However, all his success didn’t come easy. It all began when George was born into a lower middle class family and although he was regarded brainy by his teachers, he ended his formal studies by the age of 13. He headed to Melbourne and …show more content…
A series of proposals and institutions will have to be implemented to tackle this phenomenon as a single handed policy is not component enough to resolve it fully. Close study of the factsheet composed by Average Weekly Earnings (AWE) survey findings single out the 5 specific areas that are impacting the wage gap destructively. All of them of which are listed bellow.
1. The pay gap is found to be higher in private sectors than public companies or state authorities.
2. Finance and insurance services have the largest percentage of gender pay gap in Australia.
3. Another amusing fact that emerged from the study conducted was that companies in the field of consultation, IT, Air Industries to the least effort to address the gender pay gap issue.
4. Inequality is found out to be higher in managerial positions at 28.8%, a considerable 7% higher than non managerial positions.
5. A massive 73.7% of the organisations surveyed have not conducted a gender pay gap analysis throughout their