It was 50 years ago that President Lyndon B. Johnson started the “war on poverty,” railing against the “lack of jobs, bad housing [and] poor schools” that perpetuated an array of social crises, struggle and suffering amid a sea of plenty. Given the state of poverty today, it’s tempting to believe that the effort was a failure, and that perhaps we may never prevail against these ills. But in many ways, we have become far more thoughtful and systematic in our efforts to address social problems.....

.....In December, New York State launched a $13.5 million social impact bond, financed by private and institutional investors, to pay for training and employment services for 2,000 previously incarcerated individuals. The deal is that investors get repaid, and earn returns, only if the program achieves specified reductions in recidivism or gains in employment (which would produce large savings for the state).....

.....In another important partnership announced in October, Youth Villages, one of the nation’s leading organizations providing assistance to youths and families involved in the foster care system, will work alongside the state of Tennessee to provide transitional living assistance for every 18-year-old who ages out of the state’s foster care system and needs this kind of help (the first time a state has provided such assistance for all youths). Research indicates that a young disconnected person who leaves foster care at 18 is at high risk for homelessness, early parenting, unemployment and criminality. However, Youth Villages reports successful outcomes with more than 80 percent of youth it helps. (It is currently undergoing a longitudinal impact study.)

Full Article