If William A. Darity’s “baby bonds” idea had a theme song, it would be the famous blues tune by Billie Holiday, “God Bless the Child.”
“Mama may have, Papa may have,
but God bless the child that’s got his own.”
But what about the child who doesn't?
Darity and his colleague Darrick Hamilton propose giving every newborn in the United States a “baby bond” at birth, to be held in trust until the child reaches adulthood. It would belong to the child, not to the family. The trust could provide capital start-up funds – an endowment to begin asset-building, to help pay for college, to buy a house or to start a business.
In this multimedia feature,The Big Idea: Baby Bonds, explore Sandy Darity's groundbreaking work on a policy to combat poverty and inequality.
Click on the image to view the multimedia feature
Read Sandy Darity's original research paper: Can ‘Baby Bonds’ Eliminate the Racial Wealth Gap in Putative Post-Racial America?