The rich have a different ethic system: Effective Altruism

Start at 30:39


30:38 Remember back at the start I said that rich people have been trying to give their money away for a long time? Well, in his book, "Winners Take All," 30:45 the journalist Anand Girihadaras says that modern philanthropy was invented in the late 19th century when the USA 30:53 was very unequal. Men like Andrew Carnegie and JD Rockefeller got very rich and faced a lot of criticism for it. 31:01 So they invented a new way to donate money: the private foundation. 31:07 And these days private foundations are everywhere! In exchange for their charity, these men expected not to get criticised 31:14 for how they made their money. If they engaged in unsafe working practices or union busting or they didn't pay their taxes, 31:21 well, that's just a temporary blip on the road to a better world. And here we can see that the effective altruist idea 31:28 of earn to give is really nothing new. It's just a restatement of this old idea 31:33 that the best way to help people is through the free market and business. Through giving money away, yes, 31:39 but never changing the system that makes the money. And from the 19th century to the present day, 31:45 this idea has remained pretty much unaltered. Here's a recent quote from a British politician, 31:50 which perfectly encapsulates this 19th century way of thinking about the poor. - [Voice of Alice Caldwell-Kelly] "I think the dynamics of capitalism 31:57 and business creation and investment are good. If you want a more equal society, what's the best way to do it? 32:03 Is to lift up those at the bottom or to bring down those at the top? I'd much rather lift up those at the bottom. 32:08 I'm very aspirational." - Girihadaras points out that if you want to get invited back to the banking conference, 32:15 if you wanna do TED Talks and corporate speaking gigs, if you want book deals and a high paying job, 32:21 if you want newspapers to support your political party, you kindof have to tow that line. 32:27 Don't talk about Lenin at the banking conference! If you want clout, that world is where the clout is. 32:38 If only I had told that conference what they wanted to hear! Somewhere in a parallel universe, there's an alternate version of me 32:45 and she doesn't have any integrity, but she does own a house. I think that effective altruism is very well suited