Since 1991, a new policy discussion has arisen in the United States and other countries, focusing on building assets as a complement to traditional social policy based on income. In fact, asset-based policy already existed (and still exists) in the United States, with large public subsidies. But the policy is regressive, benefiting the rich far more than the poor. The goal should be a universal, progressive, and lifelong asset-based policy. One promising pathway may be Child Development Accounts beginning at birth, with greater public deposits for the poorest children. If every child had an account, then eventually this could grow into a universal public policy across the life course.
Project: Global Assets Project