Nine months after the conviction of former FTX CEO Sam Bankman-Fried, philosopher Peter Singer defended the ethical philosophy of effective altruism in a debate, arguing that Bankman-Fried’s interpretation was just one aspect of a broader movement.
Effective Altruism Under Scrutiny
Sam Bankman-Fried, who was convicted of seven counts of fraud in November 2023, had been a vocal advocate of effective altruism, a philosophy that emphasizes using resources efficiently to alleviate global suffering. Critics, however, have linked his actions to his ethical beliefs, suggesting that his pursuit of wealth under the guise of effective altruism led to his downfall.
In a debate published on August 28 by the nonprofit organization Open to Debate, Singer, a prominent voice for effective altruism and author of The Most Good You Can Do: How Effective Altruism Is Changing Ideas About Living Ethically, defended the philosophy. He argued that Bankman-Fried’s focus on the “earn to give” approach was only a small part of the effective altruism community.
The Debate: Singer vs. Crary
Singer faced Alice Crary, a critic of effective altruism and co-editor of The Good it Promises, The Harm it Does: Critical Essays on Effective Altruism. Crary argued that the philosophy should be abandoned, criticizing its methods for measuring efficiency. She claimed that effective altruism’s reliance on welfare economics and randomized control trials to assess charitable programs leads to a narrow and flawed understanding of how to maximize benefits.
In his defense, Singer emphasized that effective altruism is about minimizing waste and ensuring that resources are used effectively to reduce suffering. He likened this to the way people research before making significant purchases, like a car or phone, arguing that similar diligence should apply to charitable giving.
Bankman-Fried’s Role in the Debate
Moderator John Donvan directly addressed the elephant in the room, asking Singer about Bankman-Fried’s role as a prominent advocate of effective altruism, particularly his focus on “earning to give”—the idea of making as much money as possible to donate to causes. Donvan noted that Bankman-Fried had embodied this approach during his time as CEO of FTX.
Singer responded by distancing the core of effective altruism from Bankman-Fried’s interpretation. He stated that “earning to give” is just one of many possible paths within the movement, and not its central tenet. He pointed out that 80,000 Hours, a career guide popular among Effective Altruists, presents earning to give as only one option among many for doing good in the world.
