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Social Impact Bonds: The Next Phase of Third Sector Marketization?

Social Impact Bonds: The Next Phase of Third Sector Marketization?. Meghan Joy, PhD Candidate, Policy Studies, Ryerson university Dr. John Shields, Professor, Department of politics and public administration, Ryerson university Tuesday, February 11th, 2014. Presentation Overview.

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Social Impact Bonds: The Next Phase of Third Sector Marketization?

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  1. Social Impact Bonds: The Next Phase of Third Sector Marketization? Meghan Joy, PhD Candidate, Policy Studies, Ryerson university Dr. John Shields, Professor, Department of politics and public administration, Ryerson university Tuesday, February 11th, 2014

  2. Presentation Overview • Why the Current Interest in SIBs? • SIBs as a Market-oriented Policy Tool • Practical Design and Implementation Challenges • Fundamental Challenges

  3. Why the Current Interest in SIBs?

  4. SIBs as a Market-oriented Policy Tool • Marketization • SIBs part of agenda to reform the public sector to operate more like a private business • Alternative service delivery complimented by alternative service funding • SIBs could facilitate privatization of service delivery

  5. SIBs as a Market-oriented Policy Tool • Social Innovation • “Proven ideas that work to address unmet needs by applying new learning and strategies to solve these problems” (HRSDC, 2013, 9) • Conceptualization heavily marketized • Framed as alternative to big government • SIBs used to transform nonprofits into efficient and innovative market actors

  6. Practical Design and Implementation Challenges

  7. Fundamental Challenges • Model of philanthropy not intended to displace state run social policy • SIBs may represent privatization with the nonprofit sector used as legitimation • Social problems framed as an individual’s lack of self-responsibility • Social profit organizations may be less willing to operate where they cannot make money

  8. Fundamental Challenges • Need to expand, not reduce the vision of what the nonprofit sector does • SIBs can be both empowering and disempowering, freeing and controlling • Need to assess who wins/loses with the broad implementation of this policy tool • Support for the third sector should include stable and long term funding that covers core administrative costs and community engagement and organizing • Provides sustaining foundation for the third sector and empowers nonprofits to be innovative

  9. Further Information and Follow-up Joy, M. & Shields, J. (2013) Social Impact Bonds: The Next Phase of Third Sector Marketization? Canadian Journal of Nonprofit and Social Economy Research. 4(2): 39-55. http://anserj.ca/anser/index.php/cjnser/article/view/148 Meghan Joy: meghan.joy@ryerson.ca John Shields: jshields@ryerson.ca

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