One thing I’ve never discussed on this blog is effective altruism. It is basically a movement to optimize doing good, and it does so by number crunching rather than by random donating. Here are a couple of main results:
- Certain charities are 10 or 100 times more efficient than others. The most effective of them all is to distribute mosquito nets to sub-Saharan Africa, according to the famous site GiveWell, which ranks charities in effectiveness.
- A high income earner can create more social impact than a social worker. The idea is that a software engineer earning $100,000 a year and donating 50% of it (to efficient charities like above) can generate a lot more good than a non-profit worker. The site 80,000 Hours has more about this.
I am fine with this movement and I really enjoy the discussions it causes. I would defend effective altruism against many of its usual criticisms.
But I am still personally skeptical for now. Which brings me to…
One thing about working in trading is that I now see everything in terms of markets. (Tyler Cowen’s blog often highlights “markets in everything“.) I naturally think about the cost and value of everyday things and decisions. This mindset probably makes effective altruism become more understandable. If every $3000 in mosquito nets saves one life, why would I ever donate to my alma mater?
Yet the same market mentality also raises some questions. I believe people are generally good, that markets are generally efficient, and that companies are generally beneficial to society. So when billions of dollars go into a tech company like Facebook (market cap of $300 billion as of this post) instead of anti-mosquito nets, there is probably a lot of hard-to-measure good that Facebook is providing and which is widely ignored.
Disenchantment with the Left
I wrote only 3 blog posts this year, and sadly two of them were about terrorist attacks in Paris. Back in college I blogged about atheism, and I kind of want to get into this again considering the Paris tragedies, and I believe that combating religion is still important.
That is also why I am becoming disillusioned with being a liberal. Both in the media and on my Facebook feed, people are too afraid (of being called racist or worse, Islamophobic) to criticize Islam and its role in the attacks. The Koran says to do horrific things to infidels, and it is emphatically not a tiny minority that believe this literally.
Liberals do a great job standing up for women, LGBT people, and religious minorities—in America and Europe. But in entire swathes of Islamic countries, in both the Middle East and Africa, women are considered second-class, legally beaten by their husbands, and even sentenced to 200 lashes for the crime of being raped. And we liberals just look the other way because it would be racist and colonialist to criticize their culture. (That last sentence is just out of anger, I hope nobody actually thinks that.)
Here is a very graphic New York Times video from just yesterday, showing a woman literally beaten and stoned to death by a mob, in a public space in broad daylight, because of rumors she burned a Koran. Can you really watch that and claim Islam had nothing to do with it?
My other disillusionment with being a liberal is the whole safe-space/microaggression/trigger-warning/check-your-privilege movement, which I talked about previously.
Anyway, I want to make a hobby out of writing in 2016, and I’m not sure if I should stick with tame topics like effective altruism and markets, or also include charged ones like religion and politics.
Bonus: My 2015 Reading List
- The Occupy Wall Street Handbook, Various Authors: This is a compilation of essays written on the Occupy movement. I read this to challenge my positive views towards Wall Street, but I was mostly unpersuaded. The essays presume that you are against Wall Street and then talk about the movement or stats about inequality, without much attempt at persuasion.
- A Random Walk Down Wall Street, Burton G. Malkiel: A decent chronicle of the rise of finance and Wall Street.
- The Millionaire Next Door, Thomas J. Stanley and William D. Danko: An eye-opening book about American attitudes on saving, spending, and the accumulation of wealth. It provides so many instances where two households have the same income yet have vastly differing net worths, even when age, location, education, previous incomes, etc. are similar.
- Atlas Shrugged, Ayn Rand: I expected Atlas Shrugged to be pure evil based on so many peoples’ hatred of Ayn Rand and this book, but I actually enjoyed it. At least within the story, I cheered at the end. Does this make me a bad person? I definitely agreed with the reverence of scientists/inventors/creators.
- On the Origin of Species, Charles Darwin: We are all familiar with classics in literature, so why not in science? Its force and detail are impressive.
- Average is Over, Tyler Cowen: The title says it all. Jobs will increasingly cluster towards high-wage and low-wage, with little in between.
- The Great Stagnation, Tyler Cowen: Good discussion of low hanging fruit in economic growth.
- The Myth of the Rational Voter, Bryan Caplan: Excellent treatise on voter rationality and the public’s views on economic issues, and how frighteningly different they are from economists’ views.
- The Intelligent Investor, Benjamin Graham: I didn’t find it very useful.
- The Sense of Style, Steven Pinker: A useful writing-style guide.
- The Price of Inequality, Joseph Stiglitz: I had a similar reaction as to the Occupy handbook. It basically listed some facts but wasn’t that convincing. I mean, I agree that too much inequality is bad, but this book somehow made the case weaker for me. It had at least one “are you kidding me” moment.
- Humans Are Underrated, Geoff Colvin: An interesting take on the idea that machines will take over even more jobs than today and that jobs will be all about human-to-human interaction.
- Islam and the Future of Tolerance, Sam Harris and Maajid Nawaz: A very refreshing, actual dialog between an unapologetic atheist and a pro-reform Muslim. More discussions like this need to exist.
- Brief Candle in the Dark, Richard Dawkins: Full of captivating and often humorous tales of Oxford, science, and atheism.
- You’re Never Weird on the Internet (Almost), Felicia Day: Really, thank you so much for creating The Guild and this memoir. It also feels good to read another person’s experience with World of Warcraft.
Caplan’s book discusses anti-market bias, and I feel like I did had lower expectations for books that were pro-market and higher expectations for ones that were anti-market. Both sides surprised me.