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Rebecca Black - Friday (Economics Parody)

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Published on May 27, 2012

This is my grade 12 Economic assignment (: I'm not a singer, so try not to judge my singing yeah :P? This is hilarious and it also teaches you about Australia's income & wealth inequality (: ENJOY!
don't forget to LIKE, COMMENT & SUBSCRIBE!

My Facebook page:
http://www.facebook.com/pages/Gun-Osa...

Lyrics:

Verse 1
Australia's wealth gap is large and growing

The Australia council of trade unions

sampled how Australians thought wealth was distributed in the country

Wealth is a measuring of the values

of all a person's assets

Wealth is also related to income

Wealth produces income 
and income can be used to
 accumulate wealth, but the problem is

Further explanation
The wealthiest 20% Australians own 61% of the wealth

The poorest 20% owns only 1% of the wealth

Chorus


It's growing, growing, income Inequality's growing

The Poorer people are getting poorer, poorer

growing, growing, income inequality's growing

The wealthy people are getting richer, richer

getting worse, getting worse (booo!)
getting worse, getting worse (booo!)

Bad, bad, bad, bad

Australia's economy is unequal

Verse 2
The Gini co-efficient measures inequality
of people's income in a country

the closer the GC figure is to 1, the worse income inequality gets

Australia economy promotes and values knowledge based society

Workers with professions needing higher levels of education qualifications

Dentist, lawyers and doctors earn higher income

while cleaners and postmen earn lesser income

Further information
The Gini Coefficient is 0.303 in 1998 and 0.331 in 2008 .

Since the figures in the space of one decade increased closer towards 1, meaning that there is more income inequality present in Australia, Australia's income inequality is worsening.

While a 9.2% increase in the GC figure may seem small and insignificant, it actually represents the 1.7 million people that have now fallen victim to more unequal distribution of income.

Chorus


It's growing, growing, income Inequality's growing

The Poorer people are getting poorer, poorer

growing, growing, income inequality's growing

The wealthy people are getting richer, richer

getting worse, getting worse (booo!)
getting worse, getting worse (booo!)

Bad, bad, bad, bad

Australia's economy is unequal

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