In the late 1980s, Michael Sherraden initiated a body of work proposing that United States welfare policies be designed to better encourage people at all income levels to build assets. Sherraden pointed out that existing asset-building policies are largely regressive– set up through the tax code to largely create wealth-building incentives for people who already own significant assets (Sherraden, 1991).
Edwards, K., & Bailey, J. (2006). State-level Individual Development Account (IDA) policy: Opportunities and challenges for rural areas (CSD Policy Report No. 06-01). St. Louis, MO: Washington University, Center for Social Development.