However, current trends indicate this may not be the case – as the Ideas and Society forum, Intergenerational Fairness, will explain.
Rising inequality, debt burdens, climate change, demographic imbalances and the spectre of 'secular stagnation' are current issues that will continue to plague this generation and the next – meaning that proceeding generations will be worse-off than their forebears.
In a joint collaboration between the Philosophy, Politics and Economics Society (PPE) and the Ideas and Society series, Professor Jeff Borland, economist John Daley and Dr Miriam Bankovsky came together with Professor Robert Manne to discuss intergenerational fairness.
Jeff Borland is a Fellow of the Academy of Social Sciences in Australia, and in 2010 was the Visiting Professor of Australian Studies at Harvard University. Jeff publishes a monthly 'Snapshot' on the Australian labour market.
John Daley, is the CEO of the Grattan Institute, with 25 years' experience in the public, private and university sectors. John's most recent report, The Wealth of Generations, finds older Australians are capturing a growing share of Australia's wealth.
Miriam Bankovsky is a Lecturer in political theory and Australian Research Council DECRA fellow at La Trobe University, Miriam initially focused on the philosophy of justice. Her current work extends this into economics, challenging the orthodox conception of wellbeing.
Robert Manne is the Convenor of the Ideas and Society series and is an Emeritus Professor of Politics at La Trobe.