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Coronavirus Impact of Australia’s Economy (source 9)

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Coronavirus Impact of Australia’s Economy (source 9)

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Bibliography: Online Library, 2021, https://onlinelibrary.wiley.com/doi/10.1111/1467-8462.12405, (accessed on the 29/03/2021)

Description of data

During Covid-19 in 2020, the GDP decreased by an overall record of 7%, which put the GDP at a percentage of approximately-6%. (our first technical recession since 1991.)

The amount of spending on goods and services (DFD) also declined, this reached below the GDP at approximately 7%

What data tells you about wellbeing

Tells us that Australia’s economy had been negatively affected by the Pandemic, it changed and ruined many peoples lives, and decreased human wellbeing substantially

This is because many recreational social and tourist activities had stopped meaning people were not spending money, the economy wasn’t getting enough money and for a majority of people the poor economy left their human development in jeopardy.

Factors

Covid-19

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Global youth Wellbeing Index (source 8) Australia and India Comparision

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Global youth Wellbeing Index (source 8) Australia and India Comparision

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BBibliography: International Youth Foundation, 2017, https://www.youthindex.org/, (accessed on the 29/03/2021)

Description of data

Australia is ranked 2 with a score of 0.81 out of 1 (Australia have a very high youth wellbeing)

India Is ranked one of the lowest ranking countries, 26 out of 29 participants the with a score of 0.52 out of 1 (very poor youth Wellbeing)

What data tells you about wellbeing

The wellbeing of people in Australia of far better and higher than of the people in India especially in the youth

Population differences must be taken into account

Factors

Population growth in India (internal) growth is growing faster than the rate of replenishing of resources

- compounding issues (high rates of child labour and child marriages can cause a youth to be oppressed in society, which leads to that low wellbeing) internal
- Australia’s strong economy, which creates great opportunities for  majority of youth majority giving the quality access to things such as education

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Wealth and income Inequality in Australia (source 7)

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Wealth and income Inequality in Australia (source 7)

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Bibliography: UNSW Sydney Newsroom, 2020, https://newsroom.unsw.edu.au/news/social-affairs/income-and-wealth-inequality-australia-was-rising-covid-19, (accessed on the 27/03/2021)

Description of data

Average wealth in Australia has exceed over a million, a new record high

The wealth gap is further than ever, “the average wealth of the highest 20 per cent of wealth-holders is $3,255,000 –which is over 90 times the wealth of the lowest 20 per cent (with just $36,000).”

What data tells you about wellbeing

Many people on Australia are thriving because of the strong economy, good wealth and great access to many goods and services but there is still a significant amount of the population being left behind

Australia is very unbalanced which is why our wellbeing can never be one of the highest in world, we still have great inequality which lowers our wellbeing

Factors

Components of wealth (such as superannuation and shares) are the fastest growers, they only benefit older people, (over 35) internal
- Lack of Government care and action
-compounding issues, some people (mostly discriminated social groups or races) are in a cycle of poverty which can go on for generations, internal

- external, British colonialism left India in subject of economical disadvantage leaving it exploited and having to catch up to the rest of the developed world

- external, Covid-19 Pandemic dramatically decreased employment rates and worsened economies

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Bibliography: UNICEF, N/A, https://www.unicef.org/india/what-we-do/end-child-marriage, (accessed 27/03/2021)
Description of Data

one third of worldwide child bridges live in India

It’s one of the highest ranking country’s for most child brides in the world (with approx 1.5 million women aged under 18)

What data tells you about wellbeing

The sustainable Quality of life in India is very much in jeopardy and that there is little to any action in the change and human development

human wellbeing in India especially for women is  unfair

Child marriage negatively affects the Indian economy and can lead to an intergenerational cycle of poverty leading to a bad wellbeing

Factors

The desperate economic conditions, lead to child marriage as they are a way to reduce the expenses of a poor family. (Internal)- compounding issues

-In some parts of India, the existence of personal laws for Muslims are a cause of child marriages.(legacy of history) external
- A main factor would be the lack in government action-political instability (many child marriages still occur even though it is against the law)

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Bibliography: Gallup News, 2018, https://news.gallup.com/opinion/gallup/236357/indians-life-satisfaction-goes-bust-economy-booms.aspx, (accessed on the 25/03/2021)

Description of data

“Over 70% of all wealth earned in 2017 went to the richest 1% of Indians. Only 1% of newly created wealth went to the poorer half of the country.”

In 2017 a record 37% of the Indian pollination were experiencing the inability to pay for nec desires such as food, water and education

What data tells you about wellbeing

There is a huge equality gap evident in India between the rich and the poor, though their economic seems to grow so does their uneasy distribution of wealth

This causes India’s human development to be in unbalanced and their wellbeing lessened as many people share a poor quality of life

Factors

Compounding issues (internal), inflation in the economy combined with very high tax rates causes issues such as unemployment leading to poverty

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Life Satisfaction in Australia (source 4)

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Life Satisfaction in Australia (source 4)

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Bibliography: OECD Better Life Index, N/A , http://www.oecdbetterlifeindex.org/countries/australia/, (accessed 25/03/2021)

Description of data

In Australia, “there is a strong sense of community, 95% of people believe that they know someone they could rely on in time of need, more than the OECD average of 89%.”

-Australia is also very politically engaged “participation in the political process, was 91% during recent elections. This figure is one of the highest in the OECD, where the average is 68%.”

What data tells you about wellbeing

Majorly of People in Australia are very community active and quite friendly, this suggests that there is a very high quality of human development and wellbeing

Factors

Government laws (compulsory voting) internal.
- Low political instability (little corruption)
- low crime rates
- strong economy and high incomes means less inequality and better access to education and health

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Description of Data

India is ranked 50 with a fairly average HPI of 29.2

-   Far better than Australia in terms of HPI

What Data tells us about Wellbeing

People in India are living more sustainable lives compared to Australia as they have a far lower ecological footprint since their county is not  as modernised and industrially advanced

Factors

Their lack in a industry focused economy (they aren’t a country that specialises in manufacturing or industry (internal) meaning they don’t burn fossil fuels and toxic gases as much as other countries do

- material deprivation from the basic things needed for a decent life, such as food, water, energy, sanitation, housing, learning, and health can degrade India HPI (Political instability lack in government funding causes this)

External :Legacy of history (fight for independence,)removal of non useful practices from the British and their invasion, their former part in the British colonies left India’s socioeconomic stand in a difficult place, compared to Australia’s

Bibliography: Ecological footprint of India, 2014, https://vikalpsangam.org/article/the-ecological-footprint-of-india/, (accessed on the 25/03/2021)
This source is very inaccurate to the current results for air quality (India rank no.3 in air quality 3rd worst, Australia’s is rank 41 be careful)

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Description of Data

Australia is ranked 105 on the happy planet index with a HPI of 21.2 (one of the lowest ranked Developed countries)

That’s more the 50 rankings below India meaning Australia’s rank is very low and a very poor HPI even though it has a better wellbeing rating, higher life expectancy and lower percentage of inequality than India

What data tells you about Wellbeing

Although Australia is a way more developed country and has a way higher quality wellbeing, the majority of people living here aren’t living sustainable and happy lives. (Of course this would be very different in 2021)

The huge issue with Australia HPI is that we have a very high carbon footprint

Factors

environmental costs of how the economy is running (internal)
- mismanagement of natural resources
= Lack of Government action (Compounding Issues)

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The Happy Planet Index (HPI) measures what matters: sustainable wellbeing for all. It tells us how well nations are doing at achieving long, happy, sustainable lives.
Bibliography: Happy Planet Index, 2016, https://static1.squarespace.com/static/5735c421e321402778ee0ce9/t/57e0052d440243730fdf03f3/1474299185121/Briefing+paper+-+HPI+2016.pdf (accessed 24/03/2021)

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Description of data

India is ranked 67 out of 135 countries with a crime rate of 44.72 still moderately low

This is 9 places higher ranked than Australia but the crime rates are pretty close (considering India’s extremely large population)

What data tells us about wellbeing

That India is a relatively safe place like Australia their crime rates are almost similar considering that Australia is way less populated and more developed place

- although their overly populated country does have a higher crime rate which means it’s quality of living will be lower than Australia.

Factors

(Internal) population growth-overpopulation can have significant affect to people socially and economically because demand of resources are high but a lack to keep up with demand causes shortages in resources (inequality in distribution of goods and services)
- compounding issues- lack of government policy leads to lack in accessibility to essentials causing poverty and this means a high unemployment, more poor being unemployed are higher chance of a raise in crime rate
- political instability (government corruption)

Bibliography: Research Gate, 2018, https://www.researchgate.net/publication/329168634_Crime_and_Socioeconomic_Factors_of_India_Cointegration_and_Causality_analysis, (accessed on the 24/03/2021)

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Description of data

In 2021 Australia recorded a crime rate of 42.44 which ranks them 76

That makes them 9 places below India

What data tells you about wellbeing

Australia has a moderately low crime rate taking into consideration that its population is substantially smaller than India’s

-it’s low crime rate means it’s safer to live there making it have a higher quality of life and better human wellbeing

Factors

Tough firearm laws and strict crime enforcement (internal)
-low political instability
-lots of programs providing subsidised or free housing, food, clothing, meaning a significant amount of the population will never find themselves in a life of crime due to lack of resources

Bibliography: The Conversation, 2019, https://theconversation.com/explainer-why-homicide-rates-in-australia-are-declining-128124, (accessed on the 24/03/2021)

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Crime rate is calculated by dividing the number of reported crimes by the total population, and then the result is multiplied by 100,000
Bibliography: Numbeo, 2021, https://www.numbeo.com/crime/rankings_by_country.jsp, (accessed on the 24/03/2021

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Description of data

Australia has a HDI of 0.94, (out of 1) this is .3 better than India

What data tells you about wellbeing

Human wellbeing in Australia is very high this means Australia overall a very thriving and great country to live in, far better than India

Australia’s wellbeing far exceeds India, it’s better to live in Australia

Factors

External . Legacy of history (was a colony of Britain and became its own country still sharing healthy ties and relations between the UK

Internal. Political stability (low rates of corruption), as Australia is a democratic country our main values are fairness, respect, equality, fairness and freedom and we try to abide them and our constitution (our legal system also being impartial compared to india)

-rise in demand for quality living standards are helped by a relatively small population (with a small population on a large land mass we have many commodities such as mining to our advantage)

- Australia has very high levels of social interconnectedness and citizen participation in the community (this helps boots quality of life and overall wellbeing)

-Australia being a very modern developed, and industrialised country creates opportunity for the population giving us better chances, resources and necessities than counties such as indai

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Description of data

In 2017 India had a HDI of 0.64 (out of one) medium human development

What it tells us about wellbeing

Human wellbeing is above average and quite moderate in the country (not very high but not necessarily low either)

It tells us that the Indicators used to measure the HDI are very average in India it’s not doing poorly but it defeintly isn’t a thriving country in terms of wellbeing.

Factors

Mostly internal factors
- such as population growth
-Compounding issues (the lack in investment to education and health services causes problems such as high income inequality and high unemployment rates)

Sourced from : The Viewsroom, 2019, https://www.thehindubusinessline.com/opinion/columns/from-the-viewsroom/why-india-underperforms-on-hdi/article30269129.ece, (accessed on the 24/03/2021)

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Human development Index (2017)n. Source 1

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Human development Index (2017)n. Source 1

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Source from: Our World in Data, 2017  https://ourworldindata.org/human-development-index, (accessed on the 24/03/2021)