Financialization as Welfare
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In this chapter, Golka provides an important analysis of impact investing proponents’ discourse by showing how they attempt to render for-profit investments as indispensable for questions of social welfare. Using the collective action frames perspective, Golka shows how an “under-investment” and an “impact” narrative are used to position impact investments as the solution to a number of social problems. However, Golka also analyzes the social problems proponents do not talk about and finds that issues relating to inequalities of wealth and income that pose a threat to investors’ profit-making abilities are consistently ignored in proponents’ discourse. By contrast, the financialization as welfare frame is highly attentive to British social welfare reform discourse, from where many of its concepts are borrowed.
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