Publication Date
7-1-2003
Summary
Asset-building policy is a complementary alternative to income replacement policies that simply subsidize short-term consumption (Sherraden, 1991). This approach may seem novel, but the Homestead Act provides historical precedent for federal involvement in promoting asset development for individuals. This one policy allowed 1.5 million households to receive 246 million acres of land. More importantly, it provided a tangible asset that could also benefit future generations.
Document Type
Working Paper
Category
Financial Inclusion
Subarea
Asset Building
Original Citation
Williams, T. R. (2003). Asset-building policy as a response to wealth inequality: Drawing implications from the Homestead Act (CSD Working Paper No. 03-05). St. Louis, MO: Washington University, Center for Social Development.
Keywords
Homestead Act, assets, economic strategies, poverty alleviation, policy
Recommended Citation
Williams, T. R. (2003). Asset-building policy as a response to wealth inequality: Drawing implications from the Homestead Act (CSD Working Paper No. 03-05). St. Louis, MO: Washington University, Center for Social Development.
DOI: https://doi.org/10.7936/K7N0161F
Notes
Subsequent publication: Williams, T. (2003). Asset-building policy as a response to wealth inequality: Drawing implications from the Homestead Act of 1862. Social Development Issues, 25, 47–58.