Feeding young people to the social investment machine: the financialisation of public services

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Feeding young people to the social investment machine : the financialisation of public services. / de St Croix, Tania; McGimpsey, Ian; Owens, John.

In: Critical Social Policy, Vol. 40, No. 3, 01.08.2020, p. 450-470.

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@article{f839cafd313f473181097bd54a0f8147,
title = "Feeding young people to the social investment machine: the financialisation of public services",
abstract = "Public services operate increasingly through financialising policy technologies in which governments and other funders {\textquoteleft}invest{\textquoteright} in programmes and interventions that can measure and monetise their social impact. This article investigates this shift towards social investment, focusing on the UK government{\textquoteright}s flagship youth programme the National Citizen Service and UK government Treasury guidance, particularly the {\textquoteleft}Green Book{\textquoteright} (HM Treasury, 2018). We argue that policy on social value operates in conjunction with new approaches to impact measurement creating a {\textquoteleft}social investment machine{\textquoteright}. The machine operates through innovations in policy alongside {\textquoteleft}evaluation entrepreneurship{\textquoteright} at a programme level to reposition young people as the subjects of investment with imagined futures as economically productive citizens, while their data becomes the currency of investment. This shift towards financialisation in policy also promotes {\textquoteleft}high volume{\textquoteright} services, which in contrast to universal welfare services obscure the structural inequalities that shape young people{\textquoteright}s lives.",
keywords = "assemblage, evaluation, impact, social value, youth programmes",
author = "{de St Croix}, Tania and Ian McGimpsey and John Owens",
year = "2020",
month = aug,
day = "1",
doi = "10.1177/0261018319854890",
language = "English",
volume = "40",
pages = "450--470",
journal = "Critical Social Policy",
issn = "0261-0183",
publisher = "SAGE Publications",
number = "3",

}

RIS

TY - JOUR

T1 - Feeding young people to the social investment machine

T2 - the financialisation of public services

AU - de St Croix, Tania

AU - McGimpsey, Ian

AU - Owens, John

PY - 2020/8/1

Y1 - 2020/8/1

N2 - Public services operate increasingly through financialising policy technologies in which governments and other funders ‘invest’ in programmes and interventions that can measure and monetise their social impact. This article investigates this shift towards social investment, focusing on the UK government’s flagship youth programme the National Citizen Service and UK government Treasury guidance, particularly the ‘Green Book’ (HM Treasury, 2018). We argue that policy on social value operates in conjunction with new approaches to impact measurement creating a ‘social investment machine’. The machine operates through innovations in policy alongside ‘evaluation entrepreneurship’ at a programme level to reposition young people as the subjects of investment with imagined futures as economically productive citizens, while their data becomes the currency of investment. This shift towards financialisation in policy also promotes ‘high volume’ services, which in contrast to universal welfare services obscure the structural inequalities that shape young people’s lives.

AB - Public services operate increasingly through financialising policy technologies in which governments and other funders ‘invest’ in programmes and interventions that can measure and monetise their social impact. This article investigates this shift towards social investment, focusing on the UK government’s flagship youth programme the National Citizen Service and UK government Treasury guidance, particularly the ‘Green Book’ (HM Treasury, 2018). We argue that policy on social value operates in conjunction with new approaches to impact measurement creating a ‘social investment machine’. The machine operates through innovations in policy alongside ‘evaluation entrepreneurship’ at a programme level to reposition young people as the subjects of investment with imagined futures as economically productive citizens, while their data becomes the currency of investment. This shift towards financialisation in policy also promotes ‘high volume’ services, which in contrast to universal welfare services obscure the structural inequalities that shape young people’s lives.

KW - assemblage

KW - evaluation

KW - impact

KW - social value

KW - youth programmes

U2 - 10.1177/0261018319854890

DO - 10.1177/0261018319854890

M3 - Article

VL - 40

SP - 450

EP - 470

JO - Critical Social Policy

JF - Critical Social Policy

SN - 0261-0183

IS - 3

ER -