Policy Paper
Could a Social Impact Bond Help New York City?
Author:
Marc Cohen
Columbia University, US
About Marc
Master of International and Public Affairs. Class of 2022, Columbia University
Abstract
Homelessness is debilitating for the individuals who suffer from it and challenging for the legislators tasked with curbing and preventing it. The topic of homelessness has been particularly challenging for New York City, where few strategies have minimized the homeless population. To this end, this paper explores a social impact bond, an instrument used to achieve social benefit while providing a financial return to the investor who pays for the program. By creating a pay-for-success program, New York City will find a way to manage its rising costs, invest in human capital, and provide housing for hundreds. Accordingly, New York City should implement a social impact bond to serve citizens best.
How to Cite:
Cohen, M., 2022. Could a Social Impact Bond Help New York City?. The Public Sphere: Journal of Public Policy, 10(1).
Published on
20 Apr 2022.
Peer Reviewed
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