Explain how this would be better than having the effective altruist himself or herself fund an emergency fund before they start donating to charity.
I understand you are saying that pooling the money could mean less money is kept in the fund and more can be donated, but I’m not sure that benefit outweighs the cost. While the amount of an emergency fund is the subject of some debate, IMO $10,000 per person is a decent ballpark. Say you could get that result with only $5000 per person with your proposed pool. Then does that $5000 difference outweigh 1) administrative costs, 2) cost of litigation over payouts, and 3) cost to the altruist of losing the ability to decide how much money is set aside and what happens to it?
The “tick the box” approach would lead to quickly depleting the fund. Instead, you’d have to set limits on what counts as an “emergency,” and expect a whole lot of debate (and litigation) over that. A medical procedure, new car, home repair, or adopting a child are all examples of things where people might or might not consider “emergencies,” depending on their personal philosophies and circumstances.
Explain how this would be better than having the effective altruist himself or herself fund an emergency fund before they start donating to charity.
I understand you are saying that pooling the money could mean less money is kept in the fund and more can be donated, but I’m not sure that benefit outweighs the cost. While the amount of an emergency fund is the subject of some debate, IMO $10,000 per person is a decent ballpark. Say you could get that result with only $5000 per person with your proposed pool. Then does that $5000 difference outweigh 1) administrative costs, 2) cost of litigation over payouts, and 3) cost to the altruist of losing the ability to decide how much money is set aside and what happens to it?
The “tick the box” approach would lead to quickly depleting the fund. Instead, you’d have to set limits on what counts as an “emergency,” and expect a whole lot of debate (and litigation) over that. A medical procedure, new car, home repair, or adopting a child are all examples of things where people might or might not consider “emergencies,” depending on their personal philosophies and circumstances.