Anorak | World Bank’s ICTD Project Is A Monumental F*ck Up

World Bank’s ICTD Project Is A Monumental F*ck Up

by | 19th, August 2011

THIS is a strange little headline from the depths of the policy wonks’ part of the internet :

A Great Success: World Bank has a 70% failure rate with ICT4D projects to increase universal access

To unpick it for a moment: ICT4D is when the World Bank tries to get computers into the hands of poor people (why it doesn’t just given them a smart phone is another matter). And the rest of the headline is stating that 70% of all the money it spends is just pissed away on nothing useful and that this is a great success.

No, not that a failure rate of only 70% is a great success: but that we know what the failure rate is is a great success.

You see, the great problem we’ve always got with any bureaucracy, any government spending, anything at all that isn’t operating in the cruel world of profit and loss, is working out whether what we’re doing is doing any good or not.

If you’re trying to make a profit then it’s quite simple: if you’re not making a profit then people are prepared to pay less for what you do than it costs to do it. This is also known as destroying value and so you should stop doing it. Which , of course, you will, when

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Posted: 19th, August 2011 | In: Money Comment (1) | Follow the Comments on our RSS feed: RSS 2.0 | TrackBack | Permalink