3min chapter

Effective Altruism: An Introduction – 80,000 Hours cover image

Two: Dr Toby Ord on why the long-term future matters more than anything else & what to do about it

Effective Altruism: An Introduction – 80,000 Hours

CHAPTER

The Pure Rate of Time Preference

The value you get out of money is logarhythmic in the amount of money that you have access to. doubling the amount of your income gives you one more unit of happiness, no matter what kind of way you started in terms of money. So if you combine those ideas to mis imagin all returns on money, and the facthat wil be richer in the future, it means that like financial benefits, if tey're oing to happen in the future have to be bigger in order to make inpactos as ones that happen now. And that all just makes sensemand this is the a ramseys method of discounting. But they also add an additionala discount rate

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