Calculative Ethics

Reviews / Votes

'Typically celebrated or condemned, impact bonds are treated to careful and insightful analysis. A must-read for researchers interested in the possibilities and problems of ethical finance.'

Professor Paul Langley, Durham University, UK

'Much has been written and debated about impact finance, yet Marco Andreu's groundbreaking new book brings truly innovative and powerful insights into the topic. Through a selection of well-chosen case studies, it presents a compelling perspective on what he terms 'factivist finance'-an approach shown to reconfigure ethics into a system of metrics that measure social outcomes, legitimizing profit driven responsibility. Essential reading for those in public policy to better grasp the core and nuances of "ethical investment".'

Professor Lena Lavinas, Institute of Economics, Federal University of Rio de Janeiro, Brasil

'Marc Andreu's Calculative Ethics offers a compelling, empirically grounded account of how impact bonds reshape the practice and politics of social innovation. The book critically illuminates both their promise and ambiguity for practitioners by unpacking the rationalities behind these financial instruments. A must-read for those seeking to understand and responsibly advance the evolving intersection of finance, ethics, and social change.'

Johanna Mair, Academic Editor Stanford Social Innovation Review and Professor at the Hertie School, Germany

'Marco Andreu's sharp and timely analysis reveals how impact bonds function as a mechanism that is at once financial and ethical-to then unpack their inherent contradictions. With a perspective that moves beyond reductionist critiques of marketisation, this book is indispensable for understanding the politics of outcomes-based finance / impact finance.'

Professor Alex Nicholls, Said Business School, University of Oxford, UK