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 Introduction
Stakeholder grants (sometimes called "demogrants") are one-off lump sums distributed to everyone on entering adulthood. The aim is to equalise people's life-chances by giving everyone an equal start in life. If the grant is then amortised into regular payments it becomes similar to a basic income - while in their concern for possession of assets stakeholder grants are related to schemes promoting 'asset based welfare'. The first proposal for one-off endowment came from Tom Paine - who suggested that every 21 year old man and women should receive an endowment of £15 (British pounds), financed from an inheritance tax. In more recent times it has been put forward by Tony Atkinson and Julian Le Grand in the UK, and Michael Sherraden, Bruce Ackerman and Anne Alstott in the US. In the US the Corporation for Enterprise Development and Sherraden's Centre for Social Development have been instrumental in arguing for the idea while in the UK the Institute for Public Policy Research put forward a plan for a baby bond and the Fabian Society suggested a capital grant. The UK government is currently planning to introduce a variant of the baby bond/stakeholder grant scheme: entitled a Child Trust Fund.
Basic Income or stakeholder grant? Demogrants in practice: Child Trust Fund
Bruce Ackerman and Anne Alstott, "Why Stakeholding", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 US Carl Emmerson and Matthew Wakefield, "The Savings Gateway and the Child Trust Fund: Is Asset-Based Welfare 'Well-Fair'?", Institute for Fiscal Studies Commentary 85, 2001 UK Julian Le Grand, "Implementing Stakeholder Grants: the British Case", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 UK Michael Lewis, "Perhaps There Can be Too Much Freedom", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 David Nissan and Julian Le Grand, "A Capital Idea: Start Up Grants for Young People", Fabian Society, 2000 UK Guy Standing, "CI, COAG and COG: A comment on a Debate", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 Pascale Vielle and Jean-Michel Bonvin, "Activation Policies: A Capabilities Perspective", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 Amy Wax, "Something for Nothing: Liberal Justice and Welfare Work Requirements", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 Stuart White, "The Citizen's Stake and the Alienation Objection", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 UK Karl Widerquist, "The Stakeholder Account System: A proposal for a hybrid of Basic Income and Stakeholder Grants for Britain and the United States", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 UK and US Edward Wolff, "Stakeholding and Inheritances", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002 US Erik Olin Wright, "Basic Income, Stakeholder Grants, and Class Analysis", Working Paper for the Havens Center Rethinking Redistribution Conference, 2002
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