The “Closer Takes” section offers longer, more detailed pieces about ideas and issues relevant to the philanthropic and nonprofit sector. These articles, below, are meant to be thought-provoking, evidence-based and timely. Our goal is to bridge academic scholarship with professional practice and public policy by making research accessible to wider audiences. Some pieces are written by faculty associated with the MPNL program, some by other scholars and sector thought-leaders, and some by the exceptional MPNL students and alumni. We welcome your feedback: panl@carleton.ca.
Closer Takes:
What Can the Philanthropic Sector Take from the Downfall of Samuel Bankman-Fried and His Ties to Effective Altruism?
Calum Carmichael
Samuel Bankman-Fried (SBF), the founder and CEO of the cryptocurrency exchange FTX, was seen to be a successful and philanthropic entrepreneur. In both his career and giving choices he aligned himself with Effective Altruism (EA) – the research area and community of practice that seeks to apply evidence and reason to determine what philanthropic spending will to the most good. But in November 2022, FTX was declared bankrupt and SBF was indicted on multiple charges of conspiracy to commit fraud, money laundering, foreign bribery and campaign finance violations. Since then, the public criticism of SBF has enlivened criticism of EA – specifically, of its philosophical foundations, analytical approaches and ultimate effects. Does that criticism of EA mean that it should also be on trial alongside SBF? In a five-part series, below, Calum Carmichael says no, but that philanthropy itself, of which EA is a part, is under questioning. An updated consolidation of the entire series can be downloaded as a pdf: What Can the Philanthropic Sector Take from the Downfall of Samuel Bankman-Fried and His Ties to Effective Altruism, a five-part series by Calum Carmichael (2023).
Banner photo is courtesy of Bryce Evans.