New York Times: The Promise of Social Impact Bonds
When a government needs to invest in an expensive capital project — a new sewer system, bridge or highway — it issues bonds. Bonds raise upfront money from private sector investors, who are then paid back with interest from the tolls or charges the project will generate.
Until now, no one ever issued a bond to invest in people like Popeye.
Popeye is a short, bearded man of 59 who often wears an earring and a cap.His real name is Robert Innes, but he acquired the nickname 25 years ago in prison.