Gambling With Our Futures: Big Data, Global Finance and Digital Life

Reposted with permission from Wrench in the Gears

broken on purpose

Through predatory public-private partnerships, global financiers are in the process of digitizing not only our education system, but many other aspects of public service delivery. This 10-minute video provides an overview of “Pay For Success” and social impact bonds, detailing how their operations hinge on intrusive and oppressive collection of data from our classrooms, homes, jails, and clinics.

By defining “success” in narrow terms suited to outcomes-based contracting, powerful investors will control how public services are delivered. Securitization of debt associated with program operations will turn our lives, including those of our children, into fodder for financial speculation. YouTube originally categorized this video as a comedy; perhaps based on the whimsical nature of the collages. After watching it, however, I’m confident you’ll see it’s truly a horror show. A slide share version of the video can be viewed here and a PDF of the script is available here.

I wish to express my deep appreciation to all who offered support and input on the creation of this piece, especially Dr. Tim Scott whose groundbreaking research is foundational to understanding this topic (read more here, here, here) and Mary Porter for her valuable editorial insights. The artwork was prepared with scissors and construction paper at my kitchen table with the goal of making this critical information accessible to a wider audience. My hope is that it will pique your interest and spur you to explore the linked resources that follow.

-Alison McDowell

Additional Resources

Impact Investing and Venture Philanthropy’s Role in Sowing the Seeds of Financial Opportunity, Tim Scott, Truthout, Link

Social Impact Bonds: The Titans of Finance as the Altruistic Merchants of Schools and the Common Good, Tim Scott, Dissident Voice, Link

Education Technology, Surveillance and America’s Authoritarian Democracy, Tim Scott, Dissident Voice, Link

Race, Finance and the Afterlife of Slavery, A talk given at the Whitney Museum of America Art by Dr. Justin Leroy, Link and his paper Bonded LifDownload

Global Finance Needs Our Schools to Fail, Wrench in the Gears, Link

What You Should Know About “Pay For Success” As Testing Season Approaches, Wrench in the Gears, Link

Smart Cities and Social Impact Bonds: Public Education’s Hostile Takeover Part II, Wrench in the Gears, Link

Who are the Players in Pay for Success / Social Impact Bonds?, Wrenches of Resistance, Link

Is Wall Street About to Take Over Public Education Once and For All?, Emily Talmage, Save Maine Schools, Link

The Real Reason Your Child Is Being Psychologically Profiled At School, Emily Talmage, Save Maine Schools, Link

Wall Street Zombies, Coming Soon to a Pre-K Near You, Emily Talmage, Save Maine Schools, Link

Social Impact Bonds, A Primer, Deb Mayer, Parents Across America, Link

Pay for Success-Also Known as Social Impact Bonds, Senator Orrin Hatch and the Every Student Succeeds Act (ESSA), Carolyn Leith, Seattle Education, Link

Pay for Success and the McCleary Crisis: Did the Every Student Succeeds Act (ESSA) Help Position Social Impact Bonds As A Last Resort Funding Option For Our Public Schools?, Carolyn Leith, Seattle Education, Link

The Proposed NSA-Like National Database for Student Data: Moneyball for Kids, Cheri Kiesecker, Missouri Education Watchdog, Link

Congress Suspending Rules to Rush Through Bill For National Citizen Data System: HR 4174, Cheri Kiesecker, Missouri Education Watchdog, Link

Scoop.it! page of articles on Pay for Success Programs and Social Impact Bonds, curated by Roxana Marachi, EduResearcher, Link

2 comments

  1. Scariest truth: “By defining “success” in narrow terms suited to outcomes-based contracting, powerful investors will control how public services are delivered…” With educational services, over time banker types will only invest in those kids who can bring them high test-score money — kids who already have home security and family wealth.

  2. Thanks again for your work and for all of these links. I especially appreciated the inclusion of the National Database system supported by Gates for years, and now with wide uptake as if it is not problematic. The SIBs are proliferating as a way to bring markets into all aspects of government ASAP, and they have traction internationally. Keep up the great work. The art probably helps in explaining the issues.

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