Overview
- Presents an in-depth case study on the emergence of social impact investing in the UK
- Empirically analyzes the political origins of social innovations in financial markets
- Recommends approaches for practitioners interested in social impact investing
Access this book
Tax calculation will be finalised at checkout
Other ways to access
Table of contents (9 chapters)
-
Front Matter
-
Back Matter
Keywords
About this book
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.
Authors and Affiliations
About the author
Philipp Golka obtained his PhD in Sociology from the Friedrich Schiller University Jena, Germany and has researched financialization at the University of Hamburg, Germany, and the École des Hautes Études en Sciences Sociales Paris, France. He first became interested in impact investing in 2011 and, before becoming a researcher, has held multiple professional positions related to the field.
Bibliographic Information
Book Title: Financialization as Welfare
Book Subtitle: Social Impact Investing and British Social Policy, 1997-2016
Authors: Philipp Golka
DOI: https://doi.org/10.1007/978-3-030-06100-5
Publisher: Springer Cham
eBook Packages: Social Sciences, Social Sciences (R0)
Copyright Information: Springer Nature Switzerland AG 2019
Hardcover ISBN: 978-3-030-06099-2Published: 21 January 2019
eBook ISBN: 978-3-030-06100-5Published: 08 January 2019
Edition Number: 1
Number of Pages: XIX, 265
Number of Illustrations: 6 b/w illustrations
Topics: Organizational Studies, Economic Sociology, Finance, general, Social Policy, Social Choice/Welfare Economics/Public Choice/Political Economy, British Politics