Book Review: Philanthropy in Democratic Societies: History, Institutions, and Values

Philanthropy in Democratic Societies: History, Institutions, Values, Edited by Rob Reich, Chiara Cordelli and Lucy Bernholz, Chicago, University of Chicago Press, 2016, ISBN: 978-0-226-33550-6 Philanthropy is a “hybrid and ever-changing form of public and private power” (p.7). This is the central image of philanthropy – in flux, contested, and always in relationship to market and…

Social Impact Bonds: Reflecting on Emerging Global Practice

A UK-based non-profit pioneered the social impact bond (SIB), a tool used by some governments to fund preventive social programs, in 2010. Like other forms of social finance, SIBs have proliferated rapidly in recent years, reflecting significant enthusiasm amongst governments and the voluntary sector. While many introduced SIBs with fanfare, they have also drawn intense…

Challenges to Implementing Social Finance Policy in Canada

SUMMARY : Aggressive spending-reduction policies at the federal level beg for new types of financing such as social finance and social impact bonds to fund socially beneficial projects. But the implementation of social finance tools, in particular social impact bonds, could significantly change or even increase accountability requirements by, for example, bringing third-party private sector…