This article sets out to test the Foucauldian concept of governmentality as it has been applied by social theorists working on the topic of neoliberal managerialism. It starts with a critical discussion of the 'good governance' agenda as developed by the World Bank. The question that the article poses is whether such technologies of governance are as successful in shaping new fields of intervention as assumed in the (managerial) governmentality literature. This question is answered negatively by way of a case study of an extensionist, working in an integrated rural development project in the Atlantic zone of Costa Rica, who developed his own 'participatory extension style of operation' for dealing with farmer beneficiaries. At a more theoretical level, the article takes issue with current notions regarding the malleability of the Self and the 'social'. The article concludes that the governmentality approach has perverse consequences for the anthropological project as it leads to an impoverished kind of ethnography.