“On the other hand, smaller countries have less of a stake in reducing global risks, due to their smaller size, so it might be harder to spend a lot to mitigate those risks. “
Not sure about that. E.g. the largest foreign aid donors in terms of percentage of GNI are Luxembourg, Norway, Sweden, and Denmark, meaning they’re unusually likely to want to contribute to global welfare. Likewise, the Scandinavian countries pursue more radical climate policies than, e.g. the US.
“On the other hand, smaller countries have less of a stake in reducing global risks, due to their smaller size, so it might be harder to spend a lot to mitigate those risks. “
Not sure about that. E.g. the largest foreign aid donors in terms of percentage of GNI are Luxembourg, Norway, Sweden, and Denmark, meaning they’re unusually likely to want to contribute to global welfare. Likewise, the Scandinavian countries pursue more radical climate policies than, e.g. the US.