God’s phone number is J333. Here’s a link. Also this.
Abhijit Banerjee and Esther Duflo:
In the same way that the poor may save less than the middle class because they know that their savings will not be enough to reach a consumption goal they are really looking forward to, they may not invest as much (not only money but also emotions and intellectual energy) in their businesses because they already know that they can’t make a real difference….
The fact that most micro-entrepreneurs may not be fully committed to making every penny count may also explain the disappointing effects of the business training programs that many MFIs have no started proposing to their clients as an added service. At weekly meetings, clients are told about how to keep better accounts, manage their inventories, understand interest rates, and so forth. Programs of this kind were evaluated in studies in Peru and India. The research results in both countries found some improvement in business knowledge but no changes in profits, sales, or assets. These programs are motivated by a sense that these businesses are not particularly well run, but if the businesses are run that way because of a lack of enthusiasm rather than a lack of knowledge, it is not particularly surprising that the training does very little to help. In the Dominican Republic, another training program tried, alongside the regular training module, a simplified curriculum, suggesting the entrepreneurs focus on simple “rules of thumb” (such as keeping the business and household expenses separate, and paying oneself a fixed salary). Here again, the regular training was ineffective, but giving the entrepreneurs the simplified tips did lead to an increase in profit. This is probably because people were willing to adopt these rules of thumb, and they actually simplified their lives rather than demanding even more intellectual resources from them.
From pages 224-5 of the book Poor Economics: A Radical Re-thinking of the Way to Fight Global Poverty.