Constructing a New Framework for Social Policy

One of the primary contributions of the asset building field to social policy thinking has been the emphasis on an extended time horizon. Social development, economic security, and general welfare are not determined at a particular moment in time; rather, they unfold over the life course. This means we need to complement policies aimed at alleviating immediate hardship with ones that create meaningful opportunities for families to move forward productively in their lives. The recent publication of our Assets Agenda 2011 identifies a series of specific proposals in a wide range of policy areas designed to forge such pathways. In isolation, they are good ideas, but ideally they would work in tandem.

Today we release a new paper from Ray Boshara which presents the case for embedding savings and asset building policies within a “life course” perspective. As the founding director of the Asset Building program, he has been a visionary proponent of asset-based social policy. In this paper he takes account of recent research and constructs a life course framework for social policy. Instead of thinking about specific asset purchases discretely, such as savings, education, or homeownership, he argues that we should approach wealth building more holistically and recognize the role assets play at distinct stages of life. With this perspective in mind, he identifies key moments for asset building and connects them to potentially powerful policy mechanisms. I think Ray’s insights should further enrich social policy discussions. I invite you to read the entire paper, and to incorporate its insights into your own thinking and work.