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

Category

Financial Inclusion

Subarea

Asset Building

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.

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.

DOI:

https://doi.org/10.7936/K7N0161F

Keywords

Homestead Act, assets, economic strategies, poverty alleviation, policy

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