Welcome back to those who have celebrated Independence Day with vigour and to start the week one story wondering about what we might call SIB’s Prisoners’ Dilemma:
Can Social Impact Bonds Solve America’s Prison Problem?
Konashen
Soaring prison populations, rising inequality and ballooning costs have come to define the American justice system. The problems have become so severe that the issue receives broad bipartisan support in the notoriously deadlocked U.S. Congress. Last week, a new bill called the Safe, Accountable, Fair, Effective (SAFE) Justice Act was introduced in the House of Representatives with support from the NAACP, the Police Foundation and the American Conservative Union. With justice reform becoming increasingly popular, some U.S. states have already taken matters into their own hands. Social impact bonds, which successfully brought down recidivism rates in the UK, are now the “hottest” tool available to states looking for results.