The core principle of the new inclusive prosperity commission was "that equality itself is a driving force for economic growth".
The new paper is the first work produced by the inclusive prosperity commission, which is led by Cooney and the former Labor treasurer Wayne Swan.
The inclusive prosperity commission notes income inequality has been rising in Australia, and growth in wages since 2000 has failed to keep pace with productivity improvements.
A new paper produced by the inclusive prosperity commission attached to Labor's official thinktank, the Chifley Research Centre, says inequality in Australia is on the rise, and structural inequality puts a drag on economic growth.
Labor's thinktank, the Chifley Research Centre, will on Tuesday launch a new inclusive prosperity commission to help shape the opposition's economic policy development process in the lead-up to the 2016 election.
On Thursday Swan will meet fellow participants in the inclusive prosperity commission attached to Labor's official thinktank, the Chifley research centre, to consider results of a reform summit being spearheaded by two national newspapers this week.
The inclusive prosperity commission has been established by Chifley in an effort to kick off an Australian conversation about the risks that entrenched inequality poses to economic growth – a policy debate which is more prominent in Europe and the United States than in this country.
A new paper produced by the inclusive prosperity commission and released before the recent ALP national conference found that inequality in Australia was on the rise, middle Australia faced an income squeeze and the gender pay gap had widened significantly since the mid-2000s.
There were several items up for bid Monday from "The Wizard of Oz," including a blue gingham test dress worn by Judy Garland's Dorothy for pre-production purposes that sold for $245,000, Bert Lahr's working script from the film, which sold for $75,000, and the aforementioned costume (made using a real lion hide), which left the auction block for $3,077,000 inclusive of commission.
The new Marketocracy "mFolios" charge investors a 1.95% fee, inclusive of commissions, for what is essentially a separately managed account run by Marketocracys advisory arm, Marketocracy Capital Management.
This week former US Treasury secretary Larry Summers and I will launch a transatlantic commission on inclusive prosperity to investigate what reforms our countries need to generate more high-wage jobs for the future.
