I’m not totally across this debate, but I think that the issue may be with ‘perpetual’ trusts, which are intended to live (and grow) forever. This is very different from a longtermist investment, which would presumably always have a vesting date, or a trigger, at which point the funds would be paid out towards worthwhile projects/causes.
I am simultaneously sympathetic towards long-term investment and future giving, where this is done deliberately, and sympathetic to the criticism of perpetual trusts which just grow and grow without ever delivering the full benefits of that compounding growth to society.
I’m not totally across this debate, but I think that the issue may be with ‘perpetual’ trusts, which are intended to live (and grow) forever. This is very different from a longtermist investment, which would presumably always have a vesting date, or a trigger, at which point the funds would be paid out towards worthwhile projects/causes.
I am simultaneously sympathetic towards long-term investment and future giving, where this is done deliberately, and sympathetic to the criticism of perpetual trusts which just grow and grow without ever delivering the full benefits of that compounding growth to society.