1st Edition
Calculative Ethics The Ambiguous Politics of Impact Finance
Introduction: Impact Bonds and the Financialisation of Social Programmes 1. The Social Turn of Finance and the Financialisation of Welfare 2. From Technologies of Power to an Experimental Investigation: A Governmentality Method 3. The Emergence of Impact Bonds to Finance Welfare and Development 4. Factivist Finance: A New Repertoire for Public Action 5. The Perpetuation of Testing 6. The Politics of Life Conclusion: The Ambiguous Politics of Factivist Finance
Biography
Dr Marco Andreu is Deputy Head of International Cooperation at the Representative Office of Switzerland in the Occupied Palestinian Territory and Honorary Research Fellow at the University of Warwick.
'Typically celebrated or condemned, impact bonds are treated to careful and insightful analysis. A must-read for researchers interested in the possibilities and problems of ethical finance.'
Professor Paul Langley, Durham University, UK
'Much has been written and debated about impact finance, yet Marco Andreu’s groundbreaking new book brings truly innovative and powerful insights into the topic. Through a selection of well-chosen case studies, it presents a compelling perspective on what he terms 'factivist finance’—an approach shown to reconfigure ethics into a system of metrics that measure social outcomes, legitimizing profit driven responsibility. Essential reading for those in public policy to better grasp the core and nuances of "ethical investment".'
Professor Lena Lavinas, University of Rio de Janeiro, Brasil
'Marco Andreu’s Calculative Ethics offers a compelling, empirically grounded account of how impact bonds reshape the practice and politics of social innovation. The book critically illuminates both their promise and ambiguity for practitioners by unpacking the rationalities behind these financial instruments. A must-read for those seeking to understand and responsibly advance the evolving intersection of finance, ethics, and social change.'
Johanna Mair, Academic Editor Stanford Social Innovation Review and Professor at the Hertie School, Germany
'Marco Andreu's sharp and timely analysis reveals how impact bonds function as a mechanism that is at once financial and ethical—to then unpack their inherent contradictions. With a perspective that moves beyond reductionist critiques of marketisation, this book is indispensable for understanding the politics of outcomes-based finance / impact finance.'
Professor Alex Nicholls, Saïd Business School, University of Oxford, UK
