Equity is a crucial goal of American urban policy. The means by which it is pursued via the liberal approach to urban policy—augmented redistribution—is problematic, however. What is needed, therefore, is an alternative means to advance equity. Broadening ownership (of productive assets) can be the basis of such an alternative. I discuss how the liberal approach to American urban policy can be transcended by supplanting its Redistributive Paradigm with an Ownership Paradigm.