The Credit Suisse Global Wealth Report 2011 reveals that Australians have a median wealth of $221,704 vs Americans at just $52,752.

Median wealth measures the middle of the wealth distribution curve where average wealth is skewed by the ultra-rich. But even when it comes to average wealth, Australia at $396,745 trounces the USA at $248,395.

Why?

Well, Australia enjoys high taxes, cradle to grave socialism, laws against private ownership of guns, laws guaranteeing a right to privacy, micro-regulated corporations and a publicly owned central reserve bank. Australia is also very resource rich and uses its burgeoning tax base primarily on the maintenance and improvement of public infrastructure. And only 1 in 800 Australians are in prison.

Australians enjoy a highly ethical but disrespectful culture that regards any authority figure with suspicion. They are part of the commonwealth and treat their head of state as a figurehead, not an executive. Australia enjoys the world's highest incidence of atheism per capita.