Congressional Briefing on the Economics of Prevention
On May 14, 2015, NPSC and PEPR hosted a briefing with nationally recognized experts on the economics of prevention. The meeting focused on specific strategies that can prevent human suffering, save tax payer dollars, and strengthen the labor market across different sectors. There was a special emphasis on the use of Social Impact Bonds (SIB) and Pay for Success (PFS) vehicles as one way to finance prevention. Congressional legislators discussed their bipartisan legislation to support this performance-based financing of prevention.
Representative Robert C. “Bobby” Scott (VA-03) made opening remarks. Max Crowley, Ph.D. (Assistant Professor of Human Development, PEPR Director, Pennsylvania State University) began this briefing with an overview entitled "The Science of Investing in Prevention". Phaedra Corso, Ph.D. (UGA Foundation Professor of Human Health and Director of the Economic Evaluation Research Group, University of Georgia) spoke on the use of economic evidence for informing policy making. Thomas Conroy, M.A. & M.B.A. (Vice President, Government Performance, The Pew Charitable Trusts); discussed The Pew-MacArthur Results Initiative, describing the model for states and efforts to invest in programs that work. John Romanm Ph.D. (Senior Fellow in the Justice Policy Center, Urban Institute) presented work on the new Pay For Success Initiative and its role in scaling outcomes-based governance.