Bruce Ackerman

Anne Alstott

Stakeholder Society

Philippe Van Parijs

Volume V in the acclaimed Real Utopias Project series, edited by Erik Olin Wright. Are there ways that contemporary capitalism can be rendered a dramatically more egalitarian economic system without destroying its productivity and capacity for growth? This book explores two proposals, unconditional basic income and stakeholder grants, that attempt just that. In a system of basic income, as elaborated by Philippe van Parijs, all citizens are given a monthly stipend sufficient to provide them with a no-frills but adequate standard of living. This monthly income is universal rather than means-tested, and it is unconditional - receiving the basic income does not depend upon performing any labor services or satisfying other conditions. It affirms the idea that as a matter of basic rights, no one should live in poverty in an affluent society. In a system of stakeholder grants, as discussed by Bruce Ackerman and Anne Alstott, all citizens upon reaching the age of early adulthood receive a substantial one-time lump-sum grant sufficiently large so that all young adults would be significant wealth holders. Ackerman and Alstott propose that this grant be in the vicinity of $80,000 and be financed by an annual wealth tax of roughly 2 percent. A system of stakeholder grants, they argue, "expresses a fundamental responsibility: every American has an obligation to contribute to a fair starting point for all."

Basic Income and Stakeholder Grants as Cornerstones for an Egalitarian Capitalism

Redesigning Distribution

Having a child, it has been said, is the greatest risk one can take. Marriages may come and go but parenthood endures. There is simply no escape--no exit--from the emotional and practical responsibilities of parenting. Nor should there be. While certain questions swirling around children--What constitutes a "good" parent? What is the role of the state in ensuring the welfare of the child?--are endlessly debated, consistency and continuity of care incontrovertibly play a foundational role in the developmental years of a child's life. Children, everyone agrees, need strong, reliable parenting. Parenting today, however, also involves something else: unprecedented economic peril. Over time, our society's demands on parents have skyrocketed, while the economic rewards of child-rearing have diminished. Once, children provided financial benefit, as workers on the farm and as security in old age. For today's parents, however, having a child is a one-way obligation, one which narrows paths and saps resources. Much of the economic burden falls on mothers, who work less, earn less, and achieve less than their childless peers. Low-income parents often struggle day-to-day to care for their children, hold down a job, and somehow find decent but affordable child care. Parents with severely ill or disabled children may find the course especially precarious.

Anne Alstott

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