Competitive Philanthropy
When I was a kid, I was inspired by successful entrepreneurs and billionaires such as Andrew Carnegie and Bill Gates and Warren Buffett of their donation efforts to charities through their private foundations. Their actions showed me the power of wealth when directed towards making a positive impact on society. This inspiration led me to sign the 10% Pledge at Giving What We Can in 2023 as a student, committing to donate 10% of my income to effective charities aimed at addressing the world’s most pressing problems.
The Power of Public Giving
One of the key strategies I have adopted in my philanthropic journey is making my charity contributions public. This approach is not about seeking praise but about setting an example for my social circle, encouraging friends, colleagues and acquaintances to engage in similar acts of generosity. By publicly sharing our charitable actions, we can inspire others to follow suit, creating a ripple effect that empowers more people and makes the world a better place.
The Concept of Competitive Philanthropy
This idea of inspiring others through public acts of charity is not new. In fact, many celebrity billionaires often share their philanthropic projects to motivate each other to “outcompete” in their giving efforts. I personally call this “competitive philanthropy”. It doesn’t mean to overdo spending on charities but to make the best effort to create the biggest positive impact based on the output of our contributions.
Competitive philanthropy is not about the amount of money donated but about the effectiveness and impact of the donations. While billionaires can easily outcompete each other with larger sums of money, the goal is to maximize the positive outcomes of their contributions. For the majority of people, even those with an income above a certain threshold (if you earn ~$60,000/year post-tax you are the top 1% globally!), donating to effective charities or contributing their time and energy to specific projects can make a significant difference.
Breaking the Silence Around Charity
One of the challenges we face in promoting philanthropy in general is the cultural and religious norms that discourage public displays of charitable behavior. Many religious teachings suggest that sharing our charitable actions publicly is a sin, which can lead to hiding and suppressing good deeds from public view.
Jesus explicitly taught against publicizing one’s charitable acts. In Matthew 6:2-4, he states: “When you give to the needy, do not announce it with trumpets, as the hypocrites do in the synagogues and on the streets, to be honored by others… But when you give to the needy, do not let your left hand know what your right hand is doing, so that your giving may be in secret.”1
This, in turn, can create a societal downspiral where positive contributions are overshadowed by the visibility of many negative actions in the world.
However, by breaking this silence and openly sharing our charitable efforts, we can combat this trend. Publicizing our good deeds can counteract the propagation of public negative behaviour by bad actors, making the world look more hopeful and encouraging more people to engage in philanthropy.
Call to Action
I would love to see more people reflect on their current beliefs about charity and consider adopting a more public approach to their philanthropic efforts. By doing so, we can inspire others, create a uplifting culture of supportive, competitive philanthropy, and collectively make a significant positive impact on the world. Let’s challenge ourselves and our social circles to contribute to effective charities and projects, demonstrating that together, we can address the world’s most pressing issues.
Citations / Footnotes
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https://www.bible.com/bible/59/MAT.6.2-4 ↩