Page 6 - 1. What Wealthy Means to Australians in 2023

3 . H O W G LO B A L F O R C E S R E S H A P E D
T H E C O N C EP T O F W E A LT H Y

By the 1970s let alone by the 1980s global megaforces
were reshaping Australia.

Australian author Germaine Greer published abolished tertiary education fees in 1974.
The Female Eunuch in 1969. This book and [Refer timeline]
others were part of a broader shift in social Australian singles and couples started to
behaviour across the Developed World. make different choices. The ideal of mum,
Women started to make different choices. dad and the kids remained popular, even
Workforce participation jumped (see dominant, but the concept was being
Graphic 4). The average age at first marriage challenged if not reimagined.
pushed back. Access to university blossomed Thirty-something baby boomers in the
after Prime Minister Gough Whitlam 1980s chose to have two kids not four.
Thirty-something baby boomers
Graphic 4. Work shift: Labourforce participation rates by gender, 1960-2022
in the 1980s chose to have two
90.0
kids not four.”
80.0

70.0
60.0

50.0
40.0

30.0
20.0

10.0
MALES FEMALES TOTAL
0
1960 1962 1964 1966 1968 1970 1972 1974 1976 1978 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022
NOVEMBER
Source: ABS
amp.com.au What wealthy means to Australians in 2023 5