Public–private partnerships, social impact bonds, and the erosion of the state in Canada

Public–private partnerships and social impact bonds are both forms of private sector encroachment on state activity and are new frontiers of commodification that rely, ultimately, on subsidies or concessions from the state. This article provides an update on both models in the Canadian context, and it reviews theories that rationalize their emergence and growth. Both models have been nurtured by direct and indirect government support, as opposed to any demonstrated superiority, raising concerns that these models are proceeding contrary to the public interest.