Everything about Asset-based Egalitarianism totally explained
Asset-based egalitarianism is a form of
egalitarianism which theorises that
equality is possible by a redistribution of resources, usually in the form of a
capital grant provided at the age of majority. Other names for this
policy include 'universal basic capital,' 'basic capital' and stakeholding, and all are generally synonymous within 'equal opportunity egalitarianism' framework.
The idea has been around since
Thomas Paine (
January 29,
1737 –
June 8,
1809) in his work '
Agrarian Justice'
1795, and complemented his other thesis of
basic income.
Two independent schools of thought were developed on the subject, involving individuals from the American Labor Movement and scholars of the 'Belgian School.' However, the same reasoning (given by both schools) behind the 'basic capital' proposal is the redistribution of wealth usually funded by an
inheritance tax in order to provide a universal and unconditional sum of money (or capital assets) at the age of majority.
It is usually seen as the opposite policy proposal of
Philippe Van Parijs thesis of
basic income, but has received less academic attention. However, more recently the wave of '
third way' politics has seen much more emphasis placed on
responsibility and
equality of opportunity and has reopened an old debate.
Some famous recent work on the policy efficaciousness of 'universal basic capital' or 'asset-based egalitarianism' has been conducted by
Bruce Ackerman and
Anne Alstott in the book 'The Stakeholder Society.' In this policy proposal, the method of funding the 'stake' was by means of a
Wealth Tax and provides a sum of $80,000 for those reaching the age of majority.
In actual policy,
Gordon Brown and the British
Labour Party initiated the United Kingdom
Child Trust Fund, while in the
United States the idea has been implemented in the form of
Individual Development Accounts and argued for by
Michael Sherraden.
(External Link
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These remain the nearest practical examples.
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