What is Effective Altruism?

What do you usually do with your money? You probably use it to purchase necessities, and sometimes also spend it on entertainment and leisure. Have you ever thought that some of your discretionary spending could go toward helping others? The world is full of philanthropic organizations created to help people, from those in need of basic necessities to those suffering from the effects of natural disasters. So how do we know which charities to donate to? Today, let’s take a look at how to make a cost-effective donation. 

 

‘Effective altruism’ refers to a social movement and philosophy aimed at maximizing the positive impact one can have with one’s time and money. Sometimes, resources are expended on philanthropic channels that are inefficient and wasteful, and the idea of effective altruism is to avoid such channels in favor of those that will deliver our time or money’s worth, even when it comes to helping others. For example, people have a tendency to give money to the most publicized disasters when, in reality, those sites already have a surplus of funds that cannot be absorbed by the limited infrastructure on the ground. One’s money would be put to much better use at a disaster site that is less well-known, where, contrary to being saturated with funds, the primary impediment to a full-scale recovery effort is insufficient finances. An effective altruist would advocate for doing the reasoning and research necessary to arrive at such a conclusion and give to the latter type of situation. 

 

While it may not be possible for every donation made in the world to reach its full potential, adopting effective altruists’ impulse to maximize the positive impact of our limited resources is likely to lead to smarter and more effective giving. Given the enormity of the problems facing humanity, any such gain in productivity is to be welcomed.