Danny Cavanagh: What wrong with Social Impact Bonds?
Governments are increasingly using Social Impact Bonds as a method to finance what are broadly called social services. With social impact bonds governments repay investors only if the programs improve social outcomes, for example, lower unemployment or prison recidivism. The approach has been tried in Justice and corrections, skills training, public health, child welfare, services for seniors, early childhood development, education, homelessness, supports for people with physical disabilities, and mental health to name a few. But really it’s just another flavour of privatization, writes Danny Cavanagh.