if you don’t believe me, look at the behavior of the stock market
that’s a very unpersuasive argument. I hope you at least consistently beat the market if you believe that. or maybe you believe you’re also irrational like the market? in which case, we don’t know if the “poverty market” is really underfunded
Possible answers include
I’m pretty skeptical of any of those reasons, but maybe it only takes one, so mayyybe. But if you believe that, then it seems obviously the best poverty alleviation intervention. Funding the most cost-effective poverty interventions while making higher-than-market returns allowing you to fund even more such interventions, etc., and maybe even inspiring others to copy you until the market inefficiency is fixed. That would seem-to-me like a lot of utilons up-for-grabs.
Beating the market consistently is hard to impossible because the market is unpredictable. But the collective mood swings (animal spirits?) behind its ups and downs are anything but rational.
And yes, there may be arbitrage opportunities in poverty alleviation. Microfinance was an “above market” investment until the market assimilated that loan payment rates were better than the previous consensus estimates.
that’s a very unpersuasive argument. I hope you at least consistently beat the market if you believe that. or maybe you believe you’re also irrational like the market? in which case, we don’t know if the “poverty market” is really underfunded
I’m pretty skeptical of any of those reasons, but maybe it only takes one, so mayyybe. But if you believe that, then it seems obviously the best poverty alleviation intervention. Funding the most cost-effective poverty interventions while making higher-than-market returns allowing you to fund even more such interventions, etc., and maybe even inspiring others to copy you until the market inefficiency is fixed. That would seem-to-me like a lot of utilons up-for-grabs.
Beating the market consistently is hard to impossible because the market is unpredictable. But the collective mood swings (animal spirits?) behind its ups and downs are anything but rational.
And yes, there may be arbitrage opportunities in poverty alleviation. Microfinance was an “above market” investment until the market assimilated that loan payment rates were better than the previous consensus estimates.