The Asset Building Program hosted an event Wednesday, July 11 in conjunction with the release of the July/August issue of The Washington Monthly. Themed “The Future of Success,” the issue focuses on the increasing relevance of asset building in the lives of all Americans, as employment alone has lost the ability to sustain a vibrant and dynamic middle class.
Panelists included authors of specific articles, who used those pieces as a springboard to discuss an array of issues. Phil Longman discussed the evolution of the job market and the inadequacy of employment alone in supporting savings, homeownership and a secure retirement. Mark Schmitt described the history of the asset building movement and concluded that asset building policies have shown their merit and applicability to modern problems and urged efforts to take them to scale. Dana Goldstein examined research showing that assets beget assets, namely that savings accounts for children increase the likelihood of those children achieving a life-changing college degree. Reid Cramer offered a variety of policy solutions to promote asset building and increased opportunity for all Americans.
The second panel, moderated by Washington Monthly Editor Paul Glastris, explored the political ramifications of the current financial climate and how the concept of asset building offers potential solutions. David Leonhardt of the New York Times and Heather McGhee, Vice President of Policy and Outreach at Demos, were the other participants in a discussion that dug deep into the challenges of promoting college access, saving for a secure retirement and promoting economic security.
Click here to view the full list of articles included in the special issue.
Senior Research Fellow, New America Foundation
Jobs are Not Enough
Bernard L. Schwartz Fellow, New America Foundation
The “Assets Effect”
Director, Asset Building Program, New America Foundation
The Asset Agenda
Senior Fellow, Roosevelt Institute
Michael Sherraden’s Compounding Interest
Editor, The Washington Monthly
New York Times columnist
Vice President of Policy and Outreach, Demos