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Date: 2024-11-21 Page is: DBtxt001.php list0300-Fund-flows-Phantom-Aid-1
ISSUES / SUBJECTS
Development Finance
PHANTOM AID
How the Money Seems to Disappear
The amount of money that has been raised for international relief and development assistance is huge.

Fund raising in the aftermath of natural disaster is impressive, and shows how supportive many people are of development initiatives.

But sadly the relief and development industry is less than candid about how the resources are used and what is being accomplished.

In 2003 a well know UK based NGO named this Phantom Aid. This is a graphic that gives an indication of the way the fund flow works.


Some years before the phenomenon had been described as “Black Hole Development” implying that no matter how much fund flow there was, the results would still be the same!

Value destruction


The amount of money that gets spent and the amount of good that gets done seems to be more and more unrelated.

Five decades or more of teaching MBA students about ways to maximize profit without teaching much about society has created a very large community of experts in profit maximization and hardly anyone that has a deep understanding of the social costs and value destruction associated with this economic paradigm. The problem, however, is worse, because the relief and development industry has many people well trained in various other disciplines, but with rather little training in this dimension of economics ... and even less trained in accountancy..


The text being discussed is available at
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