Abstract
In response to the conservative triumph in welfare reform, “welfare capitalism” has been proposed as an agenda for alleviating poverty. Welfare capitalism is made up of three strategies: wage supplements, such as the Earned Income Tax Credit, the Work Opportunity Tax Credit, and direct supplementation of wages; asset building through Individual Development Accounts and microcredit; and community capitalism, demonstrated through Community Development Financial Institutions. These strategies could be integrated through community financial services that would provide direct financial services to low‐income families and aggregate capital in order to leverage community development projects. We finally examine whether welfare capitalism is a replacement for public welfare or merely a helpful sequel or addition to its programs.
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