Overcoming economic biases

Want to be a good altruist? Check your biases

When people invest in the stock market, their primary goal is to make as much money as possible. We know this because a massive industry has grown to ensure that stock investments yield optimal returns, stocks which yield poor returns quickly die out, and investors explicitly consider it their fiduciary duty to maximize profit for shareholders. When people give money to charity, or formulate opinions on how their tax dollars ought to be spent, their primary goal is not to help as many people as possible. We know this because only a tiny fraction of donors have even heard of organizations like The Life You Can Save, ineffective charities thrive alongside charities which are more effective by orders of magnitude, and people rarely seem to consider the size of the impact of their philanthropy. ….[READ]

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