While many commentators recognize the potential for Social Impact Bonds (SIBs) to encourage innovation, empirical evidence is less clear cut. We argue that for SIBs to realize...
Traditional policy approaches have failed to catalyze significant and lasting change for many complex social problems, such as homelessness, justice involvement and reentry, and educational achievement. Social innovation, which is an iterative, inclusive process that intends to generate more effective and just solutions to solve complex social problems, provides an alternative to traditional problem solving approaches. The Price Center conducts research on all aspects of social innovation, which offers both new processes and new models for solving society’s most persistent social challenges.
This paper draws together ideas about the next generation SIBs that will be better placed to deliver more innovative approaches and act as positive disruptors in public services.
Sherry Arnstein’s classic “A Ladder of Citizen Participation” still shapes our understanding of citizen participation within and beyond planning.
Can a focus on co-created, strengths-based services facilitate early-stage innovation within social impact bonds?
International Public Management Journal
While many commentators recognize the potential for Social Impact Bonds (SIBs) to encourage innovation, empirical evidence is less clear cut. We argue that for SIBs to realize their full potential as incubators of innovation they needed to incorporate a stronger … Continue reading
Journal of Social Policy
Outcomes Based Commissioning (OBC) – for example, Pay for Success (in the US) or Payment by Results (in the UK) – has been suggested as a way to provide ‘more’ social services for ‘less’ public resources. Such commissioning is often … Continue reading
USC Sol Price Center for Social Innovation
The risk-averse nature of nonprofit organizations has led many to believe that these firms are slower to innovate than their for-profit counterparts. As a result, hybrid firms have arisen as a new type of organization that combine a for-profit structure—often … Continue reading
Policy Evaluation and Research Unit at Manchester Metropolitan University and USC Price Center for Social Innovation
Nonprofit Policy Forum
Governments in some of the world’s richest nations appear to be caught in a double challenge of declining social budgets even as social needs are increasing. In this context, Outcomes Based Commissioning (OBC), has been suggested as one way in … Continue reading