Jesse Hajer – författare

The 2008 financial crisis and its subsequent economic impacts generated a challenge for national and regional governments across the world. From this economic ruin, the Social Impact Bond (SIB) was born as an alternative mechanism for government procurement and delivery of social public services.

Social Service, Private Gain examines the evolution of SIBs, how they work, their theoretical motivation, and their global proliferation. The book critically assesses the potential of SIBs to constructively contribute to solving the multifaceted social challenges emerging from a context of entrenched and growing inequality. Claiming to bring incremental resources to the rescue, SIBs have taken up disproportionate space with new legislation, policy, subsidies, institutional supports, lobbyists, and "intermediaries" facilitating SIBs and thriving on their associated transaction costs. Drawing on mainstream and heterodox economic theory, practical case studies, and empirical data, Jesse Hajer and John Loxley generate new insights based on the limited but still suggestive publicly available data on SIB projects. Challenging the assumptions and narratives put forward by proponents of the model, they offer practical policy recommendations for SIBs and explain what the model tells us about the potential for transformational change for the better.

The 2008 financial crisis and its subsequent economic impacts generated a challenge for national and regional governments across the world. From this economic ruin, the Social Impact Bond (SIB) was born as an alternative mechanism for government procurement and delivery of social public services.

Social Service, Private Gain examines the evolution of SIBs, how they work, their theoretical motivation, and their global proliferation. The book critically assesses the potential of SIBs to constructively contribute to solving the multifaceted social challenges emerging from a context of entrenched and growing inequality. Claiming to bring incremental resources to the rescue, SIBs have taken up disproportionate space with new legislation, policy, subsidies, institutional supports, lobbyists, and "intermediaries" facilitating SIBs and thriving on their associated transaction costs. Drawing on mainstream and heterodox economic theory, practical case studies, and empirical data, Jesse Hajer and John Loxley generate new insights based on the limited but still suggestive publicly available data on SIB projects. Challenging the assumptions and narratives put forward by proponents of the model, they offer practical policy recommendations for SIBs and explain what the model tells us about the potential for transformational change for the better.

A scathing indictment of austerity policy

In 2016, Brian Pallister's Progressive Conservative Party of Manitoba successfully campaigned on a platform to reduce taxes and restore the balance between revenue and spending. The years that followed their victory saw wages frozen, emergency rooms closed, intensive care unit beds reduced, healthcare jobs eliminated, Manitoba Housing funding slashed, and payments to foster parents decreased, as the civil service was diminished by 27 percent.

Public Service in Tough Times gives voice to the people behind the balance sheets, shedding light on the vicious cycle of understaffing, burnout, attrition, and despair created by austerity policy. Using survey data from thousands of public sector workers and carefully compiled statistics on spending and staffing, editors Jesse Hajer, Ian Hudson, and Jennifer Keith, demonstrate how cuts to government expenditures disproportionately benefit the wealthy and exacerbate poverty and inequality.

As the virtues of small government, tax cuts, and private sector investment continue to be the rallying cry of right-leaning politicians worldwide, this impeccably researched case study delivers a crushing critique of austerity and its consequences.