I haven’t read Assets and the Poor, though I’ll give serious consideration to ordering it the next time I get a spare 25 bucks, but there is an excerpt – the first 5 pages – at Amazon which at least gave me a flavor for what Sherraden’s after and where he’s coming from. First response? Not good.
Unfortunately, Amazon won’t let me copy any of the excerpt and as rotten a typist as I am, I’m not going to copy large chunks by hand – it’s only 5 pages and you can read it for yourself in under 5 mins. The main thrust of his thesis seems to be that anti-poverty strategies have been based on income tansfers and income transfers don’t work. (Reminder: this book was written in 1991 and is therefore 16 years old and outdated by at least 10.)
There is widespread discontent with the failure of income transfers, such as Aid to Families with Dependent Children (AFDC).
Who, may I ask is discontented with it? And why? He doesn’t say though this is the opening and obviously the place to summarize that discontent. If he’s going to argue unhappiness, it would be nice to know where that unhappiness comes from and what its basis is. Especially since later on he admits income transfers have had a positive impact.
[I]ncome transfer has maintained…a minimum level of subsistence in the United States….In addition, welfare policy has buffered the severity of economic cycles by providing strong countercyclical fiscal stimuli.
IOW, it has done as much as conservative means-testing has allowed it to do and provided the minimum safety net which is all conservatives could stomach. Their intention was to hold welfare to the subsistence level and they succeeded in doing that. How, therefore, do we justify calling it a failure?
After decades of federal programs, it cannot be demonstrated that means-tested welfare policies permanently change people’s lives for the better.
Well, duh. Of course not. The policy was built to actively prevent “changing people’s lives for the better”. Conservatives, as I have demonstrated, wouldn’t stand for it. They didn’t even want the minimum subsistence aid, as they showed quite clearly when they came to power in ’94 and immediately began gutting as much of it as they could.
So already, right at the beginning, we’ve got problems. (more…)