We are excited to announce the launch of the Abundance and Growth Fund, which will spend at least $120 million over the next three years to accelerate economic growth and boost scientific and technological progress while lowering the cost of living.
We’re grateful for support from Good Ventures, which has committed $60M, and from the other private individuals who matched them. We’re also grateful for a contribution from Patrick Collison, who helped launch the Progress Studies movement.
We launched the fund because:
- Economic growth has transformed global living standards, and further growth could deliver vast improvements to health and well-being.
- Innovation is a key input to growth; economists and our own researchers estimate that R&D and scientific research have very high social returns.
- We have strong evidence that it’s possible to boost growth and innovation by removing existing constraints; there are many positive examples to point to where alternative systems have enabled faster progress.
- We thought the timing was right. (See below.)
We’ve long been one of the most active philanthropic funders in the pro-abundance and pro-growth movements, particularly in land use reform and innovation policy. We chose this moment to double down because:
- We feel encouraged by the recent rise of the Abundance and Progress Studies movements, which advocate for economic growth and material progress.
- We’ve seen cross-partisan interest in areas like zoning reform, energy permitting, and science policy.
- We learned a lot from launching the Lead Exposure Action Fund, which helped us quickly establish a similar pooled fund for abundance and growth.
See our blog post for more detail on all of these points.
With the launch of the Fund, we’re also launching a search for a program leader to manage it on a permanent basis. They will have significant autonomy in shaping the Fund’s direction and strategy. The application deadline is 3/31. We encourage you to check out the job description and apply yourself, or recommend someone who you think would be a strong candidate.
I'm not sure if I'm allowed to ask this, but I'm curious if people at OP think that this is cost-effective with other areas they are working on. Or more broadly, I'm curious if there's any public argument of effectiveness on this.
The public communications seems to emphasize reasons why this field is promising, not reasons why it's a good trade-off vs. other top fields. This seems similar to the sort of logic that all philanthropic donors use - it's possible to find reasons why basically all philanthropic areas are promising.
I don't believe there's been cost-effectiveness estimation posted publicly, for instance.
Overall this seems very much going in the direction of more traditional center-leftist/tech[1] philanthropy. I think that this sort of philanthropy is often net-good, but obviously there's a gap between it and the things we generally regard as effective altruism.
[1] Here I mean something like "center-left in the US"
Clarifying this a bit more (from seeing the comments):
I assume that people close to this decision have reasons why they think this makes sense for OP, as a way to maximize OP's contributions at some level.
This might well be for reasons like:
1. This could be a good experiment in OP collaborating with other philanthropists.
2. This could be a good way for OP to gain recognition by other important parties.
3. Maybe Dustin Moskovitz really wants this, and this is a way for other OP leaders to come to some agreement where they get more clearly-efficient fun... (read more)