cover_901404John Roman and Jeffrey A. Butts (2011). The Bond Market and Public Safety. Commentary. Washington, DC: Urban Institute.

At least 40 states face swelling budget deficits. Likely targets for reductions include the discretionary social programs that protect public safety. Rather than jeopardize the public’s safety and well-being with imprudent cuts, a different and better way out of the financing crunch is explained by two criminologists: the social impact bond.