Posted by: Gregoryno6 | October 26, 2013

It is the unique privilege of governments to go batshit crazy with other people’s money.

ADELAIDE, August 28, 1993. Prime minister Paul Keating launches the first Collins-class submarine. As the gleaming vessel hits the water, Australia’s technological prowess glistens as brightly as its military strength. Led by the ABC, the media hails the event as a triumph.

But it is a hoax. The steel plates are timber painted black. The engine has never been tested in salt water. The pipe fabrication is not finished. Nor is the design of the vessel. And the combat system doesn’t work. Far from intimidating our enemies, the greatest threat the submarine poses is to Australia’s taxpayers..

..In commercial markets troubled projects are either fixed or terminated; but in the public sector, it is only good programs that die young, as governments, faced with projects in difficulty, throw good money after bad in a desperate attempt to avoid recognising defeat.

According to one story I heard the Collins subs were equipped with software so complex that just making a turn required moving though 40 levels. The solution – temporary, I hope – was a cheapo laptop with a joystick for the man at the wheel.

Obamacare, Collins Class – when governments go crazy on an idea it’s always expensive. In terms of credibility as well as finance.

High cost of flawed projects sustained by official fictions

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Responses

  1. throw good money after bad in a desperate attempt to avoid recognizing defeat. Obamacare, Collins Class – when governments go crazy on an idea it’s always expensive. In terms of credibility as well as finance.

    Spot on mate!

    • I recommend the article Malcolm linked to below, JP.

  2. This article from Forbes about the Obamacare rollout supports your argument:

    http://www.forbes.com/sites/realspin/2013/10/15/the-obamacare-rollout-debacle-is-a-hayekian-teaching-moment/

    • Thanks, that’s a good article. On the subject of the Obamacare software, I saw online that it uses a large chunk of pirated software.

  3. […] Via: https://gregoryno6.wordpress.com/2013/10/26/it-is-the-unique-privilege-of-governments-to-go-batshit-c… […]


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