Social innovation: lets hear those ideas
Article Type: Abstracts From: Strategic Direction, Volume 27, Issue 2
The Economist, August 2010, Volume: 396 Issue: 8695, Start page: 55, No. of pages: 3
Describes how the US and UK governments are looking to social innovation and social entrepreneurship to improve the delivery of social policy. Explains what social innovation is and what social entrepreneurs do, locating many of the ideas that underpin these in the book by Stephen Goldsmith, called The Power of Social Innovation. Sets out how the ideas in the book are being put into operation New York city and how this experience has influenced President Obama’s Social Innovation Fund. Turns to the UK and the government’s idea of the Big Society, which is expected to include a Big Society Bank. Indicates the steps that have already been taken to support social innovation, including the development of the social-impact bond which allows private investors to put money into organizations that are tackling social problems- returns being paid to the investors by the government depending on the social benefits being achieved. Also indicates the initiatives in both the USA and UK to encourage volunteering. Lastly considers the blockages to social innovation, including opposition from the public sector.Article type: ViewpointISSN:0013-0613Reference: 39AX179
Keywords: Entrepreneurship, Social policy, Social welfare,United Kingdom, USA
