When I talk about the poor distribution of funds in charity, people in the effective altruism movement sometimes say, “Didn’t Holden Karnofsky show that charity is an efficient market in his post Broad Market Efficiency?”
Since we’re talking economics the revealed preferences of Holden would seem to say quite emphatically no. If the market was efficient givewell would be (largely albeit not quite stictly) unnecessary and would be expected to give the charities the rating “equal first” a lot.
Since we’re talking economics the revealed preferences of Holden would seem to say quite emphatically no. If the market was efficient givewell would be (largely albeit not quite stictly) unnecessary and would be expected to give the charities the rating “equal first” a lot.