Financialization as Welfare Social Impact Investing and British Social Policy, 1997-2016

Providing an in-depth case study on the emergence of social impact investing in the UK, this book develops a new perspective on financialization processes that highlights the roles of non-financial actors. In contrast to the common view that impact investing gears finance toward the solution of soci...

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Bibliographic Details
Main Author: Golka, Philipp
Format: eBook
Language:English
Published: Cham Springer International Publishing 2019, 2019
Edition:1st ed. 2019
Subjects:
Online Access:
Collection: Springer eBooks 2005- - Collection details see MPG.ReNa
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245 0 0 |a Financialization as Welfare  |h Elektronische Ressource  |b Social Impact Investing and British Social Policy, 1997-2016  |c by Philipp Golka 
250 |a 1st ed. 2019 
260 |a Cham  |b Springer International Publishing  |c 2019, 2019 
300 |a XIX, 265 p. 6 illus  |b online resource 
505 0 |a Introduction -- Financialization and Social Impact Investing -- Financialization, Fields, and Change -- Methodology and Research Methods -- The Financialization of Welfare -- Financialization as Welfare -- Field Emergence and Stabilization -- Financialization, Resonance, and the Emergence of Cross-Field Ties -- Discussion and Conclusion -- Appendices -- References 
653 |a Social policy 
653 |a Great Britain—Politics and government 
653 |a Social Policy 
653 |a Finance 
653 |a Organizational Studies, Economic Sociology 
653 |a Social Choice/Welfare Economics/Public Choice/Political Economy 
653 |a Welfare economics 
653 |a Economic sociology 
653 |a British Politics 
653 |a Finance, general 
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856 4 0 |u https://doi.org/10.1007/978-3-030-06100-5?nosfx=y  |x Verlag  |3 Volltext 
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520 |a Providing an in-depth case study on the emergence of social impact investing in the UK, this book develops a new perspective on financialization processes that highlights the roles of non-financial actors. In contrast to the common view that impact investing gears finance toward the solution of social problems, the author analyzes how these investments create new problems and inequalities. To explain how social impact investing became popular in British social policy despite its unclear effectiveness, the author focuses on cooperative relations between institutional entrepreneurs from finance and various non-financial actors. Drawing on field theory, he shows how seemingly unrelated social transformations – such as HM Treasury's expanding role in public service reform – may act as resonance spaces for the spread of finance. Opening up a new perspective on financialization processes in the terrain of public policy, this book invites readers to refocus scholarship on capitalist dynamics to the meso-level. Based on this analysis, the author also proposes ways to transform social impact investing to increase its potential for reducing global inequalities