This work proposes a new approach to welfare: a social policy that goes beyond simple income maintenance to foster individual initiative and self-sufficiency. I

Over the past three decades, average household wealth in the United States has declined among all but the richest families, with a near 80 percent drop among th

The authors analyze the ownership and use of income-generating assets, as well as access to them. Where there are market imperfections, they propose policies to

Many policymakers argue that the best poverty policy not only provides cash to the poor for subsistence but also incentives and structures that encourage long-t