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A Good Idea
A Good Idea
Putting The Profit Motive Behind Social Work

The financial industry has gotten a bad rap over the past few years, but there are good things happening on Wall Street as well. For a prime example, look to Merrill Lynch, which has just announced a partnership with New York State on a social impact bond aimed at decreasing recidivism for inmates released New York’s prisons. As the Social Finance reports, Merrill Lynch and a group of other investors have pledged to invest in the Center for Employment Opportunities to cover the upfront costs of preparing 2,000 inmates for work outside prison.

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Walter Russell Mead & Staff
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