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“In the Public Interest” is an organization dedicated to warning the public about the dangers of privatizing public services.
It has written a guidebook to explain to citizens what Social Impact Bonds are, how they work, who they benefit, and why they are dangerous for our society.
Shar Habibi, ITPI’s director of research, writes:
“Our guide is a must-read for any citizen or decision-maker trying to understand these new financing structures. It will help you ask tough questions to ensure that private dollars don’t create perverse incentives, fail to serve the neediest cases (also known as ‘creaming’), or distort measures of success for our most important social services.
“Ultimately, Pay for Success ignores the deeper cause of many of our growing social problems: underinvestment in the public interest. America desperately needs more investment in all our public services. Prevention-focused public funding of critical public services—like pre-K for all children and help for juveniles who end up in the criminal justice system—is our simplest and least expensive solution.”