CGI U 2013 at Washington University in St. Louis

Michael Sherraden

Michael Sherraden, named one of TIME Magazine’s TIME 100 Most Influential People in the World, is known for his pioneering work on asset building for low-income people. He is the founder and director of the Brown School’s Center for Social Development at WUSTL. In his book, Assets and the Poor: A New American Welfare Policy, Sherraden proposes establishing individual savings accounts for the poor — also known as Individual Development Accounts (IDAs). His program calls for the government and private sector to match individual contributions to IDAs as a means of encouraging savings and breaking the cycle of poverty. IDAs have been adopted in federal legislation and in more than 40 states.