I think in general, it’s a trade-off along the lines of uncertainty and leverage—GCR interventions pull bigger levers on bigger problems, but in high-uncertainty environments with little feedback. I think evaluations in GCR should probably be framed in terms of relative impact, whereas we can more easily evaluate GHD in terms of absolute impact.
This is not what you asked about, but I generally view GCR interventions as highly relevant to current-generation and near-term health and wellbeing. When we launched the Global Catastrophic Risks Fund last year, we wrote in the prospectus:
The Fund’s grantmaking will take a balanced approach to existential and catastrophic risks. Those who take a longtermist perspective in principle put special weight on existential risks—those that threaten to extinguish or permanently curtail humanity’s potential—even where interventions appear less tractable. Not everyone shares this view, however, and people who care mostly about current generations of humanity may prioritize highly tractable interventions on global catastrophic risks that are not directly “existential”. In practice, however, the two approaches often converge, both on problems and on solutions. A common-sense approach based on simple cost-benefit analysis points us in this direction even in the near-term.
We recently renamed our “Longtermism” grant portfolio to “Global Catastrophic Risks”. We think the new name better reflects our view that AI risk and biorisk aren’t only “longtermist” issues; we think that both could threaten the lives of many people in the near future.
I think in general, it’s a trade-off along the lines of uncertainty and leverage—GCR interventions pull bigger levers on bigger problems, but in high-uncertainty environments with little feedback. I think evaluations in GCR should probably be framed in terms of relative impact, whereas we can more easily evaluate GHD in terms of absolute impact.
This is not what you asked about, but I generally view GCR interventions as highly relevant to current-generation and near-term health and wellbeing. When we launched the Global Catastrophic Risks Fund last year, we wrote in the prospectus:
I like that the GCR framing is becoming more popular, e.g. with Open Philanthropy renaming their grant portfolio: