This month, the oldest recipients started turning 18 and gained access to that money. As any 18-year-old can tell you, money is the best of all possible high school graduation presents. And the British program gave money to children from families that had little of their own. The gifts were intended to chip away at the inequalities of wealth, and the resulting inequalities of opportunity, that weigh on developed nations. The “baby bonds” program would create a $1,000 savings account for each child born into a New Jersey household with an annual income below about $131,000.

Source: New York Times September 08, 2020 23:15 UTC