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This version revised to reflect a comprehensive overview of asset building toward inclusive policy, and bibliography expanded to include recent research.

Updated on 28 March 2018. The previous version of this content can be found here.
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date: 17 August 2018

Abstract and Keywords

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.

Keywords: assets, wealth, saving, social policy, development, Individual Development Accounts, Child Development Accounts

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