A New York City program aimed at cutting recidivism rates among Rikers Island adolescent prison inmates failed to meet its desired goal. As a result, the city paid nothing for it.
Results from the first generation of social impact bonds (also known as pay for success deals) are starting to come in. Today, the field has learned the results of the evaluation of the first social impact bond transaction in the United States.
Goldman Sachs' move to buy San Francisco-based Imprint Capital has the small community of impact investment asset managers and dealmakers buzzing about who might next be asked to dance by a Wall Street suitor.
Social impact bonds funnel private capital into philanthropic projects. Investors receive a return based on whether the project saves public money by addressing the social issue it targets.
This paper shows how Social Impact Bonds (SIBs) serve to expand privatization in areas of social reproduction and care work. SIBs extend neoliberalism and austerity in the social care sector through the financialization of care work. They open these domains as a new frontier for investment markets, creating inequity for already marginalized groups. The paper concludes with an overview of the SIB landscape in Canada and explores its possibilities for growth.
During the initial shock from COVID-19, it was understandable that governments and central banks would respond with massive injections of liquidity. But now policymakers need to take a step back and consider which forms of stimulus are really needed, and which risk doing more harm than good.
The OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. This issue includes a general assessment of the macroeconomic situation, a series of notes on the macroeconomic and structural policy issues related to the COVID-19 outbreak and a chapter summarising developments and providing projections for each individual country.
In a recent World Economic Forum (WEF) virtual meeting, the ageing heir to the British monarchy, Prince Charles spoke with IMF chief Kristalina Georgieva. Charles’s speech was part of a launch event for The Great Reset, a project involving the WEF and the Prince of Wales’s Sustainable Markets Initiative, aimed at rebuilding the economic and social system…
Together, they paint a picture of an institutional set up for public-private partnerships that enshrines ‘privileges and advantages’ for the private sector and ‘duties and obligations’ for the public sector, with worrying implications for the sidelining of the public interest in a wide range of subjects: from neglecting pandemic preparedness, to fuelling deforestation and climate change.