“Social Impact Bonds (SIBs) represent a new and innovative tool for promoting social welfare. If implemented correctly, they could represent a new frontier for public-private partnerships and philanthropic-private contracts. The limitations on the private provisioning of social welfare programs are decreasing, and recent technology allows for more accurate cost-benefit analysis and the measurement of more meaningful performance indicators. Taken together, these factors increase the technical feasibility of SIBs. By incorporating the private sector into the promotion of social welfare, social programs stand to benefit from the market-driven efficiencies gained by incorporating a profit motive. Society stands to benefit in return, through both the more effective provision of social services and the cost savings realized by government entities. … This policy analysis describes in detail the risks and barriers that could prevent the growth of the SIB market and hinder its adoption as a useful means of providing social services.”
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