Social Impact Bonds und der Disput um die Wohlfahrt

Social Impact Bonds are novel financial mechanisms for social welfare programs. What’s new about them is that they include professional financial investors into state provision of welfare. Its promise is to help states save public money in times of austerity by becoming more effective and selling their risk of failed social investments to the financial market. Against it, its critics see a further mode of capitalization of the public sphere (Landnahme). This article investigates Social Impact Bond s between the poles of de- and repolitization. On the one hand, the Social Impact Bond prevents public and democratic debates over welfare by means of privatization and methodical rationalization, on the other hand it addresses the welfare state and public expenditures to be important again. This is new, after decades of diminishing welfare states. Which sort of dispute the Social Impact Bond will bring about depends on the institutional context of its implementation.     

Die Finanzialisierung von Unternehmen

Since the 1990s the financialization of the enterprise is an increasingly important aspect of capitalist development also in Germany. However, more recently a growing number of scholars point at a problematic conceptual stretching of financialization. The term has been defined too differently and ambiguously and has not been distinguished sufficiently from seemingly similar concepts. Financialization has been prematurely identified with a set of fixed effects often condensed to stagist concepts of capitalist development. When analyzing effects financialization has been regarded in isolation without considering interaction effects with other structurations of fields and hence the multi-referentiality of the enterprise. In order to overcome these shortcomings the article proposes a concept for the analysis of firm level financialization which draws on a more general sociological concept of field structuration and dynamics in which the “multi-referential enterprise” operates. Based on this concept the article analyses episodes of financialization in Germany showing its dynamics and limits. Financialization of enterprises proves to be structurally limited, institutionally contested, and unfolds its effects in deferent actor constellations at firm level due to its multiple and contradictory embeddedness.     

Much Ado About Nothing? Macro-Prudential Ideas and the Post-Crisis Regulation of Shadow Banking

Post-crisis, macro-prudential ideas have challenged the epistemic authority of private risk management technologies, declaring them to be pro-cyclical contributors to systemic risk. This discursive challenge has been most critical of the shadow banking system, where private risk management instruments are central. This challenge, however, has not been translated into regulatory tools which reflect these convictions. This paper studies this process of discursive challenge to (failed) regulatory intervention for the case of the repo-market, the heart of the current shadow banking system. It traces regulatory efforts on the global and EU level from regulatory statements to (lack of) action, documenting both the persistent articulation of macro-prudential ideas challenging private risk-management systems and timid to no regulatory intervention. It links this hiatus to international coordination problems, the need for macro-prudential action to span regulatory communities, involving banking and financial market authorities and disagreements between micro- and macro-prudentially oriented regulators. The lack of evidence and the difficulty to generate it are identified as major impediments for regulatory consensus, further aggravated by ambiguities about the goals of anti-cyclical regulation. Beyond governance problems and the persistent appeal of private risk-management systems, the paper thus points to difficulties operationalizing macro-prudential ideas as a major explanatory factor.     

ENTERTAINING MALTHUS: BREAD,CIRCUSES, AND ECONOMIC GROWTH

Motivated by the basic adage that man does not live by bread alone, we offer a theory of historical economic growth and population dynamics where human beings need food to survive, but enjoy other things, too. Our model imposes a Malthusian constraint on food, but introduces a second good to the analysis that affects living standards without affecting population growth. We show that technological change does a good job explaining historical consumption patterns and population dynamics, including the Neolithic Revolution, the Industrial Revolution, and the Great Divergence. Our theory stands in contrast to models that assume a single composite good and a Malthusian constraint. These models generate negligible growth prior to the Industrial Revolution. However, recent revisions to historical data show that historical living standards—though obviously much lower than today's—varied over time and space much more than previously thought. These revisions include updates to Maddison's dataset, which served as the basis for many papers taking long‐run stagnation as a point of departure. This new evidence suggests that the assumption of long‐run stagnation is problematic. Our model shows that when we give theoretical accounting of these new observations the Industrial Revolution is much less puzzling. (JEL B10, I31, J1, N1, O30)     

Contemporary Social Work Practice with Veterans: An Introduction to the Special Issue

This special issue is a historical marker for contemporary social work practice with veteran populations. The editors requested papers from private, public, and academic settings that illustrate the special needs of veterans. The articles in this issue address the impact of military culture and the veteran identity, diversity, eras of service, access to care, and different stages psycho-social development on clinical practice. This introduction places the articles submitted in the context of historical and current trends in veterans’ research concluding with a call to recognize resilience inherent in this population. It is hoped that this issue will serve as a tool for clinicians, researchers, and educators to improve upon their work as well as bring a new generation to serve and support those who served.     

Infusing Clinical Supervision Throughout Child Welfare Practice: Advancing Effective Implementation of Family-Centered Practice Through Supervisory Processes

Child welfare supervision is fundamental to advancing the quality of practice when seeking to ensure the safety, permanency, and well-being of children. Child welfare supervisors serve administrative, educational, and support functions as they oversee frontline caseworkers and direct service providers. Clinical supervision, a dialog-driven process of case review and consultation is situated within the educational function. The process of clinical supervision is essential to child welfare practice, because it prompts reflection and builds analytical thinking skills needed to address complex situations involved in child protection. Despite increased recognition regarding the importance of clinical supervision, child welfare supervision continues to focus primarily on administrative tasks. Organizational climate and external pressures push this administrative agenda. In addition, many child welfare supervisors lack experience, training, and therefore competency in facilitating clinical case reviews. Strengths-Based Supervision (SBS; Lietz 2013) is a model of clinical supervision that was developed to (a) increase child welfare supervisors’ intentionality regarding the importance of infusing clinical supervision into child welfare supervision and (b) advance the skills needed to implement this practice effectively representing one solution to this ongoing challenge.     

Introduction to the Special Issues on the Supervision of Staff and Field Education of Students

Two Special Issues of the Clinical Social Work Journal have been dedicated to building on the social work discipline’s tradition and commitment to the supervision of staff and field education of students. These issues bring together contemporary theorizing, clinical supervisory and field education practice experience and wisdom, and research studies to contribute to the knowledge base for practicing supervisors and field educators. As the first of the Special Issues, this issue has been dedicated to the supervision of staff. In this Introduction, we share the salient aspects of the articles published, as they relate to contemporary social work supervision, relational considerations within the supervisory dyad, models of supervision for fields of specialization, as well as measurement and evaluation. Implications are shared, with highlights and connections for practicing supervisors made throughout.     

Remission from Depression in the DSM: Moving from Rhetoric to Restoration

The Diagnostic and Statistical Manual of Mental Disorders, 5th Edition, the most recent edition of the Diagnostic and Statistical Manual of Mental Disorders, uses the term “remission” to describe the reduction of depressive symptoms. This paper argues that by categorizing someone who no longer has depressive symptoms as “in remission,” that person may feel indefinitely tied to his or her diagnosis. Considering the unfortunate stigma associated with mental illness, permanent linkage to diagnosis through records and professional memory may cause individuals to internalize pathology. In fact, the language of the diagnosis can affect self-perception in sensitive souls for a lifetime. As an implication for practice, we propose that cognitive and narrative therapy approaches, mood-memoirs, and use of metaphor present alternative uses of language that can reduce power imbalances between clinicians and clients, providing a bridge to healing.