Must we resign ourselves to a growing chasm between rich and poor? Bruce Ackerman and Anne Alstott propose an innovative alternative in this thought-provoking book: an eighty thousand dollar grant for every qualifying young adult. The authors analyse this plan from many perspectives and argue that such a citizen's stake would open the way to a society that is more democratic, productive, and free.
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Editorial Reviews
Amazon.com Review
The main obstacle that many young people face in building their future is a lack of initial resources. Now here's a radical idea--what if every United States citizen with a high school diploma was guaranteed, on their 21st birthday, $80,000, no strings attached? Bruce Ackerman and Anne Alstott believe it's a doable scheme to ensure that every American will get "a fair share of the nation's resources as they accept the full responsibilities of adult life." The Stakeholder Society lays out the basic principles of their plan and rebuts potential objections. No, it's not a gift--you have to pay it back, if you can, towards the end of your life. Yes, some people will use their stake unwisely--but the authors argue that freedom is better served by having the opportunity to make mistakes than by never getting a chance to move forward. They are also careful to point out that, ultimately, the stakeholder system is not so much a full frontal assault on poverty as it is a citizen-building program, helping people feel like a valued part of U.S. society and making it easier for them to contribute to that society's success. "If America drifts away from the promise of equal opportunity," the authors warn, "it is not because practical steps are unavailable, but because we have lost our way." Whether The Stakeholder Society contains those "practical steps" is a matter that should be considered very attentively by policymakers and all citizens concerned with the fate of the United States in the 21st century. --Ron Hogan
--This text refers to an out of print or unavailable edition of this title.
From Publishers Weekly
Do Americans truly believe in equal opportunity? This provocative book outlines an ambitious proposal to put our collective money where our rhetoric is: give every American a one-time grant of $80,000 when he or she reaches early adulthood. The money would be funded by an annual 2% tax on the nation's wealth, to be paid for by the wealthiest 41% of the country. The funds could be used for anything: education, home purchase, business investment. The authors, both professors at Yale Law School (Ackerman's books include The Future of Liberal Revolution), may be liberals, but their proposal is informed by libertarianism: they want people to make their own decisions. But, unlike libertarians, they argue that Americans don't begin from a "fair starting point." The authors speculate on intriguing possible effects: the grant might foster patience rather than instant gratification, cause colleges to compete more and give child-rearing women new independence. Thus, they suggest that stakeholding would serve more as a citizenship program than an antipoverty program. While there may not be the political will to establish such a stakeholder society, Ackerman and Alstott's proposal is an interesting alternative to the similarly dramatic and simple plans for a flat tax currently being put forward.
Copyright 1999 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
Copyright 1999 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.
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Most Helpful Customer Reviews
2 of 2 people found the following review helpful
Format:Paperback
I recently read Charles Murray's "In Our Hands."
A reviewer of it suggested "The Stakeholder Society" as an
alternative drastic change. I recommend both books to anyone
that considers reading either.
At the risk of oversimplifying, here are the proposals.
"The Stakeholder Society" recommends a one time cash payment
of $80,000 as citizens turn 21, financed by a wealth tax.
"In Our Hands" recommends an annual cash payment to all adult
citizens financed by the elimination of all other transfer
payments.
Both books have lots of detail to explain how and why to
implement their proposal. Both admit that some details will
have to be worked out based on experience, and both identify
some potential weaknesses of their proposal.
The biggest problem with "The Stakeholder Society" is the
observation that leads to the proposal. Since there is an
unequal distribution of wealth, there must be an unequal
opportunity to accumulate wealth. If the stake increases
the disparity in wealth, the same arguments can be used to
increase the stake and the corresponding wealth tax. If the
stake decreases the disparity, but does not eliminate it,
the same arguments can be used to increase the stake and the
corresponding wealth tax.
Those that favor equal outcomes will favor "The Stakeholder
Society." Those that think there is a large degree of
opportunity for most will favor "In Our Hands." Both books
are worth considering carefully, but not worth worrying about.
The authors of both admit there is no chance of either scheme
being implemented any time soon.
Most ratings of books with political implications are based
on agreement or disagreement with the conclusion. This one
is based on the presentation of the arguments.
A reviewer of it suggested "The Stakeholder Society" as an
alternative drastic change. I recommend both books to anyone
that considers reading either.
At the risk of oversimplifying, here are the proposals.
"The Stakeholder Society" recommends a one time cash payment
of $80,000 as citizens turn 21, financed by a wealth tax.
"In Our Hands" recommends an annual cash payment to all adult
citizens financed by the elimination of all other transfer
payments.
Both books have lots of detail to explain how and why to
implement their proposal. Both admit that some details will
have to be worked out based on experience, and both identify
some potential weaknesses of their proposal.
The biggest problem with "The Stakeholder Society" is the
observation that leads to the proposal. Since there is an
unequal distribution of wealth, there must be an unequal
opportunity to accumulate wealth. If the stake increases
the disparity in wealth, the same arguments can be used to
increase the stake and the corresponding wealth tax. If the
stake decreases the disparity, but does not eliminate it,
the same arguments can be used to increase the stake and the
corresponding wealth tax.
Those that favor equal outcomes will favor "The Stakeholder
Society." Those that think there is a large degree of
opportunity for most will favor "In Our Hands." Both books
are worth considering carefully, but not worth worrying about.
The authors of both admit there is no chance of either scheme
being implemented any time soon.
Most ratings of books with political implications are based
on agreement or disagreement with the conclusion. This one
is based on the presentation of the arguments.
Format:Paperback
Bruce Ackerman and Anne Alstott have written a great book on how to realize the American Dream. "The Stakeholder Society" tells us how we can practically achieve true equality, so that America will have many that will have many more productive citizens, while ensuring that women have a true equal footing with men. It is a complex idea, but written simply enough so most of the Stakeholder plan could be understood by the average American. This book ought to be read by all politicans, and then maybe we'd have true economic prosperity.
Format:Hardcover
The concept of a stakeholder society is a very reasonable and very important idea. Alstott and Ackerman present a lucid, easy to read, argument for it. Their argument of the need for a citizen's pension in place of the present system of social security (which excludes people who have not 'worked', such as housewives), is also very convincing. I hope that their ideas don't get simply dismissed as "too radical" by the media. These ideas aren't radical at all. They're down to earth and sensible.
Most Recent Customer Reviews
Interesting, but flawed
The book lays out an idea on how to setup funding to all young citizens so that everyone has capital for investing for their future. Read more
Published on April 7, 2009 by C. Searight
Brilliant and Flawed
In an outstanding new book called the Stake holder society, Bruce Ackerman and Anne Alstott propose having the government give every American $80,000 in their early twenties. Read more
Published on March 8, 2003 by David C N Swanson
A truly novel idea
The idea at first sounds crazy, but trying to figure out why will force you to examine many of your own opinions--and perhaps ultimately to reach a different conclusion than your... Read more
Published on August 24, 1999
An interesting - and new - idea. But, oh, the side effects!
It was winter; the ants' store of grain had gotten wet and they were laying it out to dry. A hungry cicada asked them for something to eat. Read more
Published on May 16, 1999
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