Reply #50: It's much more about the mode than the median

[depakid]

and the standard of living enjoyed by most Australians as opposed to most Americans. The utilitarian sort of deal "greatest good for the greatest number" coupled with a fair go for all.

Due to demand, housing is expensive- and there may be a few bubbles in parts of the countries (as we didn't experience a housing price collapse).

Here we have tradesmen (plumbers, carpenters, mechanics, etc. (doing quite well and even living near or on the beach or on a nice spread) in many communities. That ute (pickup) you see in the driveway isn't there to do a job- they live in that house!

Teachers, small business owners, etc., also do quite well- and take paid vacation abroad. Medical bankruptcies (strictly due to medical bills) are essentially unheard of.

One of the reasons for all this is higher wages translates into a population with the ability to purchase goods and services from one another- hereby creating multiplier effects, whereby each dollar increases in value as it passes from one hand to the next.

That's one of the unseen benefits of a more equitable wealth and income distribution (and a reasonable safety net).