Suchergebnisse

This chapter considers behavioral responses to Stakeholding. The actual effect of Stakeholder Grants on overall wealth inequality depends on (1) what proportion of the stakes is actually saved and (2) how gifts and bequests change in response to Stakeholding. It is likely that Stakeholder Grants partly crowd out private transfers and that a substantial portion of them is spent (rather than saved). If these effects are greater for the less than the more wealthy, the equalizing effects of Stakeholding will be reduced, and if these factors are strong enough, they could conceivably reverse the effects of Stakeholding and increase wealth inequality.

The media is aglow with reports of the booming economy and
rising prosperity in the United States since the early 1990s.
Indeed, the run-up in stock prices between 1995 and the end
of 1999 has created the impression that all families are doing
well in terms of income and wealth. This, however, is certainly
not the case. As I shall demonstrate, most American families
have seen their level of well-being stagnate over the last
quarter-century.

Various issues addressing whether the financial assets of Americans have increased, racial differences between households have affected asset accumulation, & the wealth accumulation of families in different classes have actually fallen during the 1990s are examined. Data from the 1983, 1989, 1992, 1995, & 1998 Surveys of Consumer Finances was analyzed to address the aforementioned issues. Several findings are reported: whereas the wealthiest segment of the population has experienced significant gains in assets since 1983, middle-class families have seen very small increases; although wealth inequality has risen during the 1990s, it has happened at a slower pace than during the 1980s; the disproportionate ratio of African American families' mean wealth in relation to Anglo American families has remained relatively stable; financial savings for middle-class families decreased during the 1990s; & the median financial wealth for Latino American families remained unchanged between 1983 & 1998. Additional results that compare the findings from this study with those reached in other similar analyses are reported. It is concluded that designing policy that encourages asset ownership could facilitate poor families' achievement of financial well-being. 15 Tables, 27 References. J. W. Parker

Various issues addressing whether the financial assets of Americans have increased, racial differences between households have affected asset accumulation, & the wealth accumulation of families in different classes have actually fallen during the 1990s are examined. Data from the 1983, 1989, 1992, 1995, & 1998 Surveys of Consumer Finances was analyzed to address the aforementioned issues. Several findings are reported: whereas the wealthiest segment of the population has experienced significant gains in assets since 1983, middle-class families have seen very small increases; although wealth inequality has risen during the 1990s, it has happened at a slower pace than during the 1980s; the disproportionate ratio of African American families' mean wealth in relation to Anglo American families has remained relatively stable; financial savings for middle-class families decreased during the 1990s; & the median financial wealth for Latino American families remained unchanged between 1983 & 1998. Additional results that compare the findings from this study with those reached in other similar analyses are reported. It is concluded that designing policy that encourages asset ownership could facilitate poor families' achievement of financial well-being. 15 Tables, 27 References. J. W. Parker