PLY: The US Public Broadcasting Service continues discussing SIBs, retaining its inherent economically outmoded viewpoint that money somehow grows on trees and falls into the laps of government programmes. There is also the inherent belief (entirely unproven, alas) that overall government can do a better job of spending my money after taking it in taxes.
The simple truth is government can’t raise any more money, it is already spending way more than can be afforded and government is horribly inefficient as a means to organising what is now needed – a social revolution which is bottom up and not managed top down by a politburo of bureaucrats.
That’s why SIBs exist and the more that old-fashioned, unrealistic reactionary interests try to preclude their growth, the more damage is being done to the ability to help make our society better, fairer and more prosperous.
Hopefully next week this debate will have moved on to pastures anew so we can get back to actually discussing SIBs as opposed to this endless “swift boating” of the agenda back to a first base of failed central top down interventionism.
Society needs SIBs more than an attempted backlash rooted in the ivory towers of theoretical academia. We need a “Win Win” and Pay For Success delivers the best model yet seen.
Have a great weekend, here’s today’s SIB News:
Social impact investing sounds like an innovative way of uniting private investors, nonprofits and government to deliver social services with demonstrable outcomes. But who’s profiting from that financing model?
It’s too early to say whether the cognitive behavior therapy program at Rikers Island, which Making Sense profiled last spring (watch below), has reduced recidivism in New York City. That’s the outcome required for the city to repay Goldman Sachs’ investment. But fights among young offenders at Rikers are down since implementation of the Osborne Association’s cognitive behavior therapy program last year.