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YossarianFrPrez | 8 months ago
However, compare these two problems: a) not enough people who can afford to do so engage in philanthropy, and b) philanthropic funding isn't quasi-democratically distributed. I have to imagine that (a) is a much, much bigger issue than (b).
I guess one could argue that because there isn't an analog of "a market" for public goods (c.f. "The Use of Knowledge in Society") somehow we aren't funding the important public goods "efficiently"? And maybe we should think about this more? Yet it's not clear that efficiency (in the economic sense) should be the goal or even applies. This is because markets are great at distilling people's the preferences for fungible goods they want to buy and fungible services they want to use when faced with multiple options for procuring some of each. But a) the vast majority of people don't have that same type of preference for which public goods should be funded, and b) public goods typically aren't fungible. (I.e., funding one scientist gives you a very different research output from funding another in the same subfield.)
patcon|8 months ago
Consider philanthropy funding as actions that terraform the future. The future is where all possibilities unfold, so shaping future landscape pays dividends to the worldview of those who materialize it.
I would propose that if (b) is miscalibrated and inequitable, it might affect everything, including (a), much more than we assume.
But also, I'm not trying to claim I know that one is more important, just that they're both quite important and very interrelated :)
YossarianFrPrez|8 months ago