Critically assess the theoretical and practical debates about Essay

Critically assess the theoretical and practical debates about stakeholding focussing either on the basic income or asset aspects. Address the issues in the context of a particular society of your choice - Essay Example The concept of stakeholding stipulates that every citizen upon attainment of an adulthood age, 21 years as proposed by Ackerman and Alstott, should receive a considerable lump sum one-time grant from the government. The amount given should be sufficient to qualify one as a significant wealth owner. Ackerman and Alstott recommended that the amount should total $80,000 in the United States (Ackerman et al, 2006). This essay is aimed at critically assessing the theoretical and practical debates concerning stakeholders grant in relation to basic income or assets. The Presented discussion will be addressed in the context of African American society in the United States. The need for contemporary public policies has been necessitated by the transformative nature of the current labour market. Sherraden (2005) argued that market risks no longer impact directly on collective intermediary, government and insurance institutions but affects individuals and consequently their families. The current framework of social welfare has proved ineffective as witnessed from the deterioration of means tested program systems and lack of will by the governing institutions. Therefore, Ackerman and Alstott noted that the introduction of stakeholding would lead to progressive redistribution of wealth among members of the society (Ackerman et al, 2006). According to Paxton and White (2005), social policy campaign by egalitarian crusaders of has been focused on the redistribution of resource ownership. Proponents of stakeholding as form of social policy argues that highly privileged individuals inherit wealth from their parents while children from poor backgrounds are like ly to continue languishing due to absence of inheritance. In such a scenario, underprivileged African Americans have been left without prerequisite resources to attend colleges and universities. Arguments by Ackerman and Alstott have been evidenced by the extent of income disparity between